Retail sales in New Zealand experienced an unforeseen uptick during the second quarter, indicating that reduced borrowing costs are beginning to encourage consumer expenditure and support a broader economic rebound. n nAccording to Statistics New Zealand, inflation-adjusted sales climbed by 0.5% compared to the previous quarter, the agency reported on Monday in Wellington. This outcome contrasted with economist forecasts, which had predicted a 0.3% decline in the volume-based measure of retail activity. The stronger-than-expected performance suggests households may be regaining confidence amid easing monetary policy conditions.
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New Zealand Retail Sales Unexpectedly Rise in Sign of Recovery
New Zealand retail sales unexpectedly increased in the second quarter, suggesting that lower interest rates are starting to support household spending and underpin an economic recovery. n nSales adjusted for inflation rose 0.5% from the prior three months, Statistics New Zealand said Monday in Wellington. Economists estimated the gauge — a measure of sales volumes — fell 0.3%.