Retail sales fall after Rugby World Cup boost 13 Jun 2012
- Ohukara Wins First International Title in Women’s Final Living
- MNZ spreading the word on safe Easter boating Living
- Marathon Entries On The Up Sport
- NZ dollar drops to 5-wk low vs. pound after upbeat UK employment report Business
- Seeds March to Quarters at Skycity NZ Badminton Open Sport
- Inaugural Game Animal Council appointed News
- Students create their own league to find legends Living
- AMP Capital selling kiwi dollar in expectation of decline Business
- ‘Chipper’ kiwis push up consumer confidence in April Business
- Genesis shares stag 17% at listing, first trade at $1.81 Business
Statistics New Zealand has revised the release for Retail Trade Survey: March 2012 quarter, first published on 14 May 2012.
The revised results show that in the March 2012 quarter, the volume of core retail sales fell, but to a lesser extent than previously indicated. This fall is off the back of a boost from the Rugby World Cup in the previous two quarters.
Sales volumes for the core retail industries (which exclude vehicle-related industries) fell 1.4 percent in the March 2012 quarter. This decrease follows strong growth in the second half of 2011, when the Rugby World Cup brought 133,200 overseas visitors to New Zealand.
When the two vehicle-related industries are included, total sales volumes fell 0.6 percent.
"The industries that led this drop are the same ones whose sales were boosted during the Cup – supermarkets, accommodation, and fuel," industry and labour statistics manager Blair Cardno said.
"Although sales volumes have fallen, they are still above their pre-Cup levels."
When the effects of price changes are included, the value of core retail sales fell 1.0 percent to $13.3 billion. The value of total retail sales remained flat, up just 0.1 percent, at $17.4 billion.
When we look at the longer-term picture, the trends for both total sales volumes and values have flattened after a period of strong increases.
"Following the release of retail trade statistics for the March 2012 quarter, a number of economic commentators queried the extent of the sales volumes decline in the supermarket and grocery stores," Mr Cardno said.
"We hold ourselves to the highest standards and considered we had an obligation to further investigate the figures. Additional information and investigation allowed us to determine we had an anomalous result, which did not reflect the economic reality and therefore needed to be revised."
For more information, please see the Revisions section of the accompanying information release and Quarterly Retail Trade Survey time-series revision on the Statistics NZ website.
Dallas Welch (Mrs)
Acting Government Statistician
13 June 2012
(Statistics New Zealand)
17 Apr 2014 News
New Zealand Government 15,000 fewer people dependent on benefits Social Development Minister Paula Bennett says the latest benefit ... more
16 Apr 2014 News
Science and Innovation Minister Steven Joyce and Food Safety Minister Nikki Kaye today announced that expressions of interest... more
17 Apr 2014 Business News
Article - BusinessDesk Air New Zealand says claims withdrawn as other airlines settle over cargo cartel, seeks costs April 17 ... more
17 Apr 2014 Business News
Genesis Energy soars on debut, leading fellow energy companies higher April 17 (BusinessDesk) – Shares in the partially... more
17 Apr 2014 Entertainment
The winner of the fourth annual Taite Music Prize 2013 is Lorde for her album ‘Pure Heroine’ released on Universal Music... more
15 Apr 2014 Lifestyle
New Zealand movie ‘3 Mile Limit’ has won Best Feature Film at both the North Hollywood and Charleston International Film... more
7 Apr 2014 Property
April 7 (BusinessDesk) – New Zealand property values increased at the slowest annual pace in six months in March as lower... more
28 Mar 2014 Migration
Citizens of Croatia aged between 18 and 30 will soon be eligible to apply for a New Zealand Working Holiday Visa, giving them the... more
16 Apr 2014 Travel & Tourism
Company linked to one of China’s richest women to spend $200 mln on Auckland hotel April 16 (BusinessDesk) – Fu... more
17 Apr 2014 Rugby
New Zealand No 10 is loving his sabbatical, including a trip to the Masters, however his only motive is to return fit and fresh for... more
17 Apr 2014 Sport
TOP SEEDS CONTINUE MARCH TO QUARTER FINALS AT SKYCITY NZ BADMINTON OPEN Top seeds dominated in this morning’s 3rd round... more
20 Apr 2014 Column
The holistic helper's guide to Wellness: Part Two To misquote Aristotle ‘We are what we repeatedly do, wellness then is... more
17 Apr 2014 Opinion
Reportedly, US drone operators refer to their kills as "bug splat” - mainly because when the carnage is viewed on their... more
17 Apr 2014 Appointments
April 17 (BusinessDesk) – Bank of New Zealand, the local unit of Australia’s third-biggest mortgage lender, named the... more
15 Apr 2014 Recruitment
The average annual wage is expected to increase by $7,500 to around $62,200 a year by 2018 if New Zealand achieves its ... more