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Kiwi retail sales slowed sharply last quarter -- and it was partially due to rugby
New Zealand retail sales slowed sharply in the September quarter, thanks in part to the conclusion of the British and Irish Lions rugby tour. According to Statistics New Zealand (StatsNZ), retail sales volumes rose by 0.2%, a sharp deceleration from the 1.8% level reported in the June quarter. Despite the slowdown, the increase was slightly above the 0.1% level expected. “There were strong increases from the food and beverage services and accommodation industries in June, on the back of the World Masters Games and the Lions tour,” said Sue Chapman, retail trade manager at StatsNZ. “However, the reverse has ... (full story)