The Investor
24 Aug 2026, 10:04
New Zealand Retail Sales Unexpectedly Fall 0.5% in Q2 as Core Spending Remains Resilient
New Zealand retail sales unexpectedly contracted in the second quarter of 2026, signaling softer overall consumer activity after several quarters of expansion.
Total retail sales volumes fell 0.5% quarter-over-quarter, significantly below expectations for a 0.1% increase and reversing the previous quarter’s 1.0% gain. It was the first quarterly decline since Q3 2024.
The weakness, however, was not broad across underlying consumer spending. Core retail sales, which exclude automobiles and fuel, increased 0.7%, comfortably exceeding the 0.3% forecast, although growth slowed from 1.1% previously.
New Zealand retail sales unexpectedly contracted in the second quarter of 2026, signaling softer overall consumer activity after several quarters of expansion.
Total retail sales volumes fell 0.5% quarter-over-quarter, significantly below expectations for a 0.1% increase and reversing the previous quarter’s 1.0% gain. It was the first quarterly decline since Q3 2024.
The weakness, however, was not broad across underlying consumer spending. Core retail sales, which exclude automobiles and fuel, increased 0.7%, comfortably exceeding the 0.3% forecast, although growth slowed from 1.1% previously.
