WELLINGTON: New Zealand retail sales growth moderated in the first three months of the year. According to Statistics New Zealand, retail sales volumes rose by 0.8% during the quarter following seasonal adjustments, missing expectations for an increase of 1.0%.
It followed a 1.1% expansion in the prior quarter, and was the weakest increase seen since the June quarter of 2015. Core retail sales volumes, excluding auto sales, rose by 1.0% after gaining 1.3% in Q4 2015.