KEY POINTS:
A 15 per cent drop in motor vehicle sales is the principal factor behind a 1.2 per cent fall in total retail sales for the month of May.
This drop followed a 1.2 per cent rise in April, Statistics New Zealand said today.
The decrease was led by a slump in the motor vehicle retailing industry, down 14.8 per cent ($102 million).
However, core retail sales (which excludes the vehicle-related industries) remained about static, rising a minuscule 0.7 per cent ($27 million).
Following the motor vehicle retailing fall was furniture and floor coverings, down 15.6 per cent ($21 million) in May 2008 after a rise of 8.4 per cent in April 2008.
Of the industries that had the largest sales increases, supermarket and grocery stores rose 3.0 per cent ($35 million), followed by automotive fuel retailing, up 3.2 per cent ($19 million).
Fourteen of the 24 industries had modest sales movements, not increasing or decreasing more than $3 million.
The total retail sales trend has flattened since December 2007.
Among the regions, the largest decrease in May 2008 was recorded for Canterbury, down 3.5 per cent ($26 million); followed by Auckland, down 1.4 per cent ($24 million); and the Waikato, down 2.8 per cent ($14 million).
- NZHERALD STAFF
