Retail Sales (QoQ)

The quarterly release of Retail Sales by the Statistics New Zealand directly reflects on the country’s consumer spending. Stronger sales could drive inflation higher, leading the Reserve Bank of New Zealand (RBNZ) to hike interest rates so as to maintain its inflation-containment mandate. Thus, the indicator impacts the New Zealand dollar significantly. A better-than-expected print tends to be NZD bullish. The data is published about a month and a half after the quarter ends.

Most recent - Wednesday 22 May 2024 22:45

Previous
-1.8%
Revised
-1.8%
Forecast
-0.3%
Actual
0.5%

Higher numbers than forecast tend to be bullish for NZD/xxx pairs and bearish for xxx/NZD pairs.

Trading range

Forecast history

The most recent announced value for Retail Sales (QoQ) was 0.5% against a forecast of -0.3%.

Past events

Date
Forecast
Actual
Wednesday 22 May 2024 22:45
-0.3%
0.5%
Thursday 22 February 2024 21:45
-
-1.9%
Thursday 23 November 2023 21:45
-0.8%
0%
Tuesday 22 August 2023 22:45
-2.6%
-1%
Tuesday 23 May 2023 22:45
-0.4%
-1.4%
Sunday 26 February 2023 21:45
1.5%
-0.6%
Thursday 24 November 2022 21:45
-3.4%
0.4%
Wednesday 24 August 2022 22:45
-
-2.3%
Monday 23 May 2022 22:45
-
-0.5%
Thursday 24 February 2022 21:45
-2.2%
8.6%
Monday 22 November 2021 21:45
-
-8.1%
Monday 23 August 2021 22:45
2%
3.3%

Economic context

Recent economic data has been moderately bullish for NZD. Other recent announcements which may affect the market's interpretation of the next Retail Sales (QoQ) result:

PreviousLatest
ExportsBullish change$6.31B$7.16B
ImportsBullish change$6.32B$6.95B
Trade Balance NZD (YoY)Bullish change$-10.22B$-10.05B
Gross Domestic Product (QoQ)Bullish change-0.1%0.2%
Westpac Consumer SurveyBearish change93.282.2
Business NZ PSIBearish change46.643
Business NZ PMIBearish change48.847.2

About Retail Sales (QoQ)

Country:New Zealand
Currency:NZD
Source:Stats NZ
Category:Consumption
Frequency:Quarterly
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