New Zealand retail sales rises 0.7% q/q in Q1 2019, beats estimates (Kiwi unmoved)

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New Zealand’s retail sales report showed better than expected figures in the first quarter of 2019, according to the latest data published by the Statistics New Zealand on early Wednesday.

Headline retail sales increased by 0.7% q/q in the quarter, beating estimates of a 0.0% figure and when compared to the fourth quarter retail sales increase of 1.7%.        

Core retail sales gained 0.7%, missing estimates of +0.9% and down from a fourth quarter’s 2.0% print.

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