Retail sales fall in January, hit by plunge in vehicle sales

Retail sales fell in January as sales of vehicles fell sharply and fuel sales were also down.

Total retail sales fell by a seasonally adjusted 1.1 per cent from December, with vehicle sales down 11 per cent and fuel sales down 2.6 per cent, Statistics New Zealand said today.

The fall in total sales was a surprise with the median forecast of economists in a Reuters poll having been for a flat outcome.

Core retail sales, which excludes the vehicle-related industries, rose a seasonally adjusted 0.3 per cent in January.

- NZPA