According to Statistics New Zealand retail trade survey total volume of seasonally adjusted retail sales was $25 billion, down 1.0 percent.
Total value of seasonally adjusted retail sales was $30 billion, down 0.2 percent ($60 million).
10 of the 16 regions had higher seasonally adjusted sales values. Total value of actual retail sales was $29 billion, up 2.5 percent ($725 million), compared with the June 2022 quarter.
Total value of actual stock as at 30 June 2023 was $9.4 billion, up 0.8 percent ($75 million) compared with 30 June 2022.
Eleven of the 15 industries had lower seasonally adjusted sales volumes in the June 2023 quarter compared with the March 2023 quarter.
Seven of the 15 industries had lower seasonally adjusted sales values in the June 2023 quarter compared with the March 2023 quarter.
Per a release by Statistics Canada retail sales increased 0.1% to $65.9 billion in June. Sales increased in three of nine subsectors and were led by increases at motor vehicle and parts dealers (+2.5%).
Core retail sales—which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers—were down 0.9% in June.
In volume terms, retail sales edged down 0.2% in June.
Retail sales were unchanged in the second quarter, while in volume terms, retail sales declined 0.8% in the second quarter.
Sales at motor vehicle and parts dealers (+2.5%) were up on the strength of higher sales at new car dealers (+2.9%) in June, their third consecutive monthly increase. This was followed by higher sales at other motor vehicle dealers (+5.9%). Gains at used car dealers (+0.9%) were more than offset by lower sales at automotive parts, accessories and tire stores (-3.3%).
Retail sales at gasoline stations and fuel vendors rose 0.3% on higher prices at the pump in June. In volume terms, sales at gasoline stations and fuel vendors declined 1.4%.
On a seasonally adjusted basis, retail e-commerce sales were up 1.1% to $3.7 billion in June, accounting for 5.7% of total retail trade, compared with 5.6% in May.
The US Department of Labor released their unemployment insurance weekly claims. In the week ending August 19, the advance figure for seasonally adjusted initial claims was 230,000, a decrease of 10,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 239,000 to 240,000. The 4-week moving average was 236,750, an increase of 2,250 from the previous week’s revised average. The previous week’s average was revised up by 250 from 234,250 to 234,500.
The advance seasonally adjusted insured unemployment rate was 1.1 percent for the week ending August 12, a decrease of 0.1 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending August 12 was 1,702,000, a decrease of 9,000 from the previous week’s revised level. The previous week’s level was revised down by 5,000 from 1,716,000 to 1,711,000. The 4-week moving average was 1,697,250, an increase of 5,750 from the previous week’s revised average. The previous week’s average was revised down by 1,250 from 1,692,750 to 1,691,500.
The advance number of actual initial claims under state programs, unadjusted, totaled 198,357 in the week ending August 19, a decrease of 15,446 (or -7.2 percent) from the previous week. The seasonal factors had expected a decrease of 7,430 (or -3.5 percent) from the previous week. There were 179,220 initial claims in the comparable week in 2022.
The advance unadjusted insured unemployment rate was 1.2 percent during the week ending August 12, unchanged from the prior week. The advance unadjusted level of insured unemployment in state programs totaled 1,807,509, a decrease of 6,625 (or -0.4 percent) from the preceding week. The seasonal factors had expected an increase of 3,423 (or 0.2 percent) from the previous week. A year earlier the rate was 1.0 percent and the volume was 1,414,317.