Retail sales by volume have dropped for the third consecutive quarter, according to Stats NZ. Sales volumes in the 'core' retail industries, excluding motor vehicles and fuel fell 1.8% on a seasonally-adjusted basis in the June quarter - following falls of 1.6% in March and 1.7% in December. Comparing the June quarter volume figures with those for the same quarter in 2022 shows an annual fall for the all-industries figure of 3.5% and a fall of 5.1% for the 'core' industries. "Spending volumes are dropping sharply as rising prices squeeze households’ finances," he said. Measuring the volumes of sales as against just the value removes the impact of inflation from sales data and therefore gives a clearer picture of levels of spending.

Source: Stuff August 23, 2023 11:31 UTC