Retail spending falls for eighth quarter in a row

The total volume of retail sales fell 1.9 percent in the December 2023 quarter according to figures released by Stats NZ Friday. This follows falls in seven consecutive quarters, after adjusting for price and seasonal effects.

“Ongoing falls in retail activity over the last two years were marked by a fall in most industries in the December quarter,” business financial statistics manager Melissa McKenzie said.

Fourteen of the 15 retail industries had lower sales volumes in the December 2023 quarter compared with the September 2023 quarter.

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