Cantabrians keep their wallets shut

TESS MCCLURE
Last updated 12:27 20/12/2013

Relevant offers

Industries

A broker's view: Contact Energy New Zealand stocks trading at 'fair value' Genesis shares list at a premium Air NZ to seek costs over cargo cartel case Super Fund posts 19 per cent rise Turners Auctions upbeat outlook Business briefs: new casino bosses Liquidator to pay for 'buffoon' comment New Zealand stocks "fair value" Business backs Labour's manufacturing plan

Christchurch retail spending has dropped for the first time in over a year, Statistics New Zealand figures show.

The figures, released today, showed Christchurch retail and hospitality spending dipped slightly in the September quarter - a decrease that follows strong growth in the five preceding quarters.

For Christchurch City, retail and hospitality sales decreased 0.4 per cent in the quarter, after seasonal fluctuations are removed.

Nationally, sales rose 0.6 per cent.

Despite the dip, growth over the past five quarters had seen Christchurch outpace national growth, industry and labour statistics manager Tehseen Islam said.

Christchurch retail and hospitality sales had risen 16 per cent since June 2010. This compared with a rise of 13 per cent nationally.

Christchurch sales were 7.2 per cent higher in the September 2013 quarter compared with the same quarter last year.

The Christchurch retail trade indicator series is an experimental series that measures activity in the retail and hospitality industries after the earthquakes.

Before the quakes, total retail and hospitality growth was similar for Christchurch and New Zealand, but they diverged markedly after the June 2010 quarter.

Ad Feedback

- © Fairfax NZ News

Special offers

Featured Promotions

Sponsored Content