14 Apr 2009

Retail spending slightly up

12:41 pm on 14 April 2009

Retail spending rose marginally in February boosted by a 6.7% jump in fuel sales.

Statistics New Zealand says total sales rose 0.2% in the month following a 1.2% fall in January.

Vehicle sales fell 3.2% in February.

Once vehicle-related sales were removed, spending was down 0.1%.

RBC Capital Markets senior economist Su-Lin Ong says the figures are consistent with a likely contraction in the overall economy in the first quarter.