November retail sales 'stronger than expected'

Retail sales were stronger than expected in November, Statistics New Zealand said today.

Seasonally adjusted sales were rose 2 per cent against economists' forecasts of 0.7 per cent.

Excluding car sales, retail sales rose 0.9 per cent against the forecast of a 0.6 per cent rise.

November sales were fuelled by higher petrol spending, due to higher prices, and vehicle sales.

Actual sales for the year rose 6.9 per cent against the 5 per cent forecast.

Petrol sales jumped 9 per cent, the largest increase since the series began in 1995.

Car sales increased by 4.3 per cent.

- NZPA