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Financial News: New Zealand Retail Sales Plummet In Q2 Lockdown

New Zealand Retail Sales Plummet In Q2 Lockdown

08/23/2020 - 19:15:00 (RTTNews)

(RTTNews) - Retail sales values in New Zealand tumbled 15 percent on quarter in the second quarter of 2020 during the Covid-19 lockdown, Statistics New Zealand said on Monday - marking the largest drop on record going back 25 years.

The total volume of retail sales dropped 14 percent on quarter.

Individually, declines were led by food and beverage services, down 40 percent (NZ$1.2 billion); fuel retailing, down 35 percent (NZ$770 million); motor vehicle and parts retailing, down 22 percent (NZ$729 million); and accommodation, down 44 percent (NZ$418 million).

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