Retail sales beat expectations (NZ)
Retail sales were unexpectedly strong in the last quarter of 2011.
In dollar terms sales rose 2 per cent from the September quarter, the fourth consecutive quarter of strong growth, Statistics New Zealand said.
Core sales, which exclude car yards and petrol stations, rose 2.3 per cent seasonally adjusted, driven by supermarkets and grocery stores, food and beverage services, department stores, and electrical and electronic goods stores. Compared with the same period in 2010 sales overall were up 6.6 per cent and 7.5 per cent higher in the core sector. New Zealand Herald – Read more…