Retail spending down
Updated at 7:01 pm on 14 November 2012
Retail spending was down in the three months to September, with supermarket, car and fuel sales all falling.
Figures show retail spending dropped 0.8% in the September quarter, compared with the previous quarter, when it rose 1.1%.
Excluding price changes, the volumes fell 0.4%, with shoppers buying less in nine of the 15 retail sectors.
Statistics New Zealand sayshardware, building and garden supplies were the only sector where sales were up, boosted by a rise in purchases in the Canterbury region.
On an annual basis, retail spending fell 2.1%.
Statistics NZ says the trend for retail spending has eased this year, after strong growth last year.
ANZ senior economist Mark Smith says retail momentum has ground to a halt.
He says consumer sentiment remains guarded with consumers continuing to look at high debt levels and the employment outlook going forward.
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