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FINANCIAL NEWS
New Zealand retail sales slide 0.3% in April
14 Jun 2010
(MENAFN) A report issued by Statistics New Zealand showed that the country?s retail sales fell by 0.3 percent in April from March when they rose a revised 0.5 percent, Bloomberg reported.
According to the report, food prices fell 0.5 percent in April. Fuel prices were unchanged, according to government figures. Adding to the sales decline, many stores were required to close for part of the Easter vacation which began on April 2.
Core sales, which exclude vehicles dealers, fuel outlets and workshops, fell 0.2 percent from March when they rose 1 percent, the report showed. The median estimate of 11 economists was for a 0.4 percent decline.
House prices declined 0.4 percent in April from March, according to figures from the Real Estate Institute. Wages for non-government workers rose 1.3 percent in the first quarter from a year earlier, the slowest pace in more than nine years, the government said May 4.
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