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Giving change at the till - Source: ONE News -
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There are more signs of recovery for the retail sector with total retail sales rising 0.5% in the September Quarter.
According to Statistics New Zealand, total retail sales rose $82 million during the three months.
It was the second quarterly increase in a row after retail sales values in the June quarter rose 1.1%.
The increases follow four quarters of decline.
Helping nudge up September quarter sales were a 1.1% or $41 million increase in supermarket and grocery store sales, and a 5% or $32 million increase in appliance retailing.
However, ANZ chief economist Nick Tuffley says much of the increase was a result of higher prices for food.
This rise was partly offset by a 2.5% or $38 million decrease in fuel retailing, as well as a decline in sales for department stores, cafes and restaurants.
The volume of retails sales for the quarter was flat, increasing just 0.1%. While the increase was marginal, it was the first lift in five quarters.
The biggest contributor to rising volumes were a 6.5% increase in appliance retailing, a 3.8% increase in clothing and soft goods retailing, and a 3.1% rise in accommodation.
Sales volumes were partly offset by decreases in motor vehicle retailing, department stores and 'other retailing'.
"Overall sales volumes growth is very modest, and the lift in big-ticket spending appears more related to stronger housing market turnover than consumers relaxing their grip on their wallets," says Tuffley.
Tuffley says that while the sales figures suggest that spending as bottomed out, consumers are still being cautious.
