InstaForex InstaForex

New Zealand Retail Sales Growth Misses Expectations in Q4, Rises 0.8 Pct Q/q

New Zealand Retail Sales Growth Misses Expectations in Q4, Rises 0.8 Pct Q/q

New Zealand's volume of retail sales increased a seasonally adjusted 0.8 percent in the three months ended December 31, from a 0.9 percent rise in the September quarter, Statistics New Zealand said today. The rise was less than expectations by economists at 1 percent. The total value of retail sales, seasonally adjusted, rose 1.1 per cent in the quarter to $21.08 billion. On an unadjusted basis, the value of retail spending rose 4.7 percent to $22.8b in the December quarter compared with the same quarter in 2015.

Auto sector continued to outperform for the third consecutive quarter supporting retail sales growth. Motor vehicle and parts retailing saw sales volumes rise 1.9 percent, while volumes in core retail - which excludes motor vehicles and fuel - rose 0.6 per cent in December, outperforming September's 0.2 percent growth, the agency said.

"Over the year as whole, we saw a solid 4% lift in spending volumes. We expect spending growth will ease off in 2017, but still remain healthy." said Westpac NZ Research in a report.

Kiwi subdued on retail sales’ miss. NZD/USD slumps below 0.72 handle, and is currently trading at 0.7217. Close below 5-DMA at 0.7194 could see weakness upto next major support at 0.7132 (100-DMA).

Recommend: Forex News
BRAZIL: Gov't Calls For WTO Panel Against Canadian Subsidies...
2017-08-18 22:19:00 UTC+00 13 hours, 9 min. ago  
Views today: 890 
CHILE: Current Account Posts US$ 1.55 Billion Deficit In 2Q17
2017-08-18 23:01:00 UTC+00 12 hours, 27 min. ago  
Views today: 853 
Portugal PPI Inflation Slows Further
2017-08-18 10:32:00 UTC+00 1 day, 56 min. ago  
Views today: 919 
COLOMBIA: Crude Oil Production Falls 0.06% On Month In July
2017-08-18 22:54:00 UTC+00 12 hours, 34 min. ago  
Views today: 829 
German Producer Price Inflation Slowest In 7 Months
2017-08-18 06:15:00 UTC+00 1 day, 5 hours, 13 min. ago  
Views today: 855 

Support and resistance levels

Aug 19 at 11:28 UTC
Start trading with
no risks and investments
With new Start-Up Bonus of $1000
Get bonus
from InstaForex
on every deposit