FX.co ★ New Zealand Retail Sales Beat Expectations in Q1

Retail sales in New Zealand experienced a 0.8% increase in the quarter ending March 2025, following an upgraded 1% growth from the previous quarter and surpassing market predictions of a mere 0.1% rise. Significant contributors to this growth included motor vehicles and parts retailing, which saw a 3.1% increase, pharmaceutical and other store-based retailing, which grew by 3.7%, and the clothing, footwear, and personal accessories sector, which expanded by 3.2%. Conversely, sectors such as hardware, building, and garden supplies experienced a decline of 2.1%, while liquor retailing plummeted by 6.5%. Over the year, retail sales increased by 0.7%, marking the second consecutive rise since the third quarter of 2022, following an upward revision to a 0.3% growth in the prior quarter.