FX.co ★ New Zealand Retail Sales Fall for 1st Time in 7 Quarters

New Zealand’s retail sales unexpectedly fell by 0.5% quarter-on-quarter in Q2 2026, reversing an upwardly revised 1.0% increase in the previous quarter and confounding market expectations of a 0.1% rise. This marked the first quarterly decline in retail sales since Q3 2024. The figures are adjusted for both inflation and seasonal effects. The downturn was broad-based, with eight of the 15 retail industries reporting lower sales volumes. The largest declines were recorded in fuel (-13%), motor vehicles and parts (-2.3%), accommodation (-8.0%), and food and beverage services (-2.8%).