Australian EconomyNew Zealand Economy

New Zealand retail sales follow houses into abyss

David Llewellyn-Smith
Thursday 25 August 2022
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New Zeland retail sales just fell off the proverbial cliff as house prices collpase:

For the June 2022 quarter compared with the March 2022 quarter, unless otherwise stated:

  • total volume of seasonally adjusted retail sales was $26 billion, down 2.3 percent
  • total value of seasonally adjusted retail sales was $29 billion, relatively unchanged, up $1.1 million
  • 8 of the 16 regions showed higher seasonally adjusted sales values
  • total value of actual retail sales was $29 billion, up 3.8 percent ($1.0 billion), compared with the June 2021 quarter
  • total actual value of stock at 30 June 2022 was $9.3 billion, up 12 percent ($994 million) compared with 30 June 2021.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.