New Zealand’s retail sales fell by a modest 0.1% in Q3, a significant improvement from the 1.2% drop recorded in Q2. The data indicates resilience in consumer spending despite rising economic pressures, suggesting some stabilization in the retail sector.
The smaller-than-expected decline reflects mixed economic conditions as households navigate high interest rates and inflation. While the quarterly contraction marks a continuation of subdued activity, the pace of decline has notably slowed, hinting at potential recovery or stabilization heading into the holiday season.
