New Zealand retail sales dropped a record -14.6% qoq (ex-inflation) in Q2, better than expectation of -16.3% qoq. “This unprecedented fall in the June quarter was not unexpected, with COVID-19 restrictions significantly limiting retail activity,” StatsNZ retail statistics manager Kathy Hicks said.
12 of the 15 industries had lower sales over the year too. Some had record decline, and the main movements were: Food and beverage services, down -40%; fuel retailing, down -35%; motor vehicle and parts retailing, down -22%; accommodation, down -44%.
