Petrol prices push November retail sales up

Higher fuel prices have pushed retail sales for November up by 1.5pc. Photo / NZ Herald

Retail sales rose a seasonally adjusted 1.5 per cent or $82 million in November from October, boosted by rises to vehicle and fuel sales, Statistics New Zealand says.

Figures out today show vehicle and parts retailing rose 11.8 per cent or $69m, seasonally adjusted, in November. That followed a 14.3 per cent fall in October, the largest decrease recorded for the sector since 2005.

In November fuel sales were up 3.6 per cent or $20m, on top of a rise of 6.2 per cent or $33m in October.

The trend for fuel retailing had risen 5.2 per cent since last July, but in November was 14 per cent lower than its peak in July 2008, SNZ said.

Core retail sales, which exclude the vehicle-related industries, slipped 0.2 per cent or $7m, following a fall of 1.6 per cent in October and a rise of 1.7 per cent in September.

Supermarket and grocery store retailing fell 2.8 per cent or $40m in November, while electrical and electronic goods sales lifted 5.8 per cent or $11m.

The 1.5 per cent rise in total sales in November followed a 2.4 per cent fall in October and a 2 per cent rise in September.

Statistics NZ said it was likely the figures in September and October were influenced by a rise in GST on October 1.

Actual sales in November were 2.5 per cent or $136m higher than a year earlier. Core retail sales were up 0.6 per cent or $28m over the same period.