Christchurch retail activity sluggish

Posted 28 Jun 2012 by MediaStuff Popular
Posted in Business , Media
This item was posted on the Stuff.co.nz website - click here to view the original

 

Retail growth in Christchurch was sluggish in the three months to March 31, according to the latest Christchurch retail trade indicator from Statistics New Zealand.

But it fared better than the quake-hit city's accommodation, bars and restaurant sector where spending fell again.

Total retail trade activity in the city increased just 0.3 per cent in the March quarter, after a 0.8 per cent increase in the previous three months.

Retail trade activity rose 0.7 per cent, while the accommodation and food services sector fell 2.8 per cent in the same period.

Since the June 2010 quarter - the three month period before the September 4 earthquake hit the city - Christchurch's total retail trade activity has risen 1.3 per cent, well below the national growth rate of 7.7 per cent.

The accommodation and food services sector in Christchurch has been particularly hard hit, falling 11.3 per cent since the earthquakes began, while other retail trade activity has risen 3.5 per cent.

The accommodation and food services sector accounts for 13 per cent of activity in the Christchurch total retail trade indicator.

However retail trade activity in the city has been climbing for the last five quarters.

The Christchurch retail trade indicator is an experimental series published by Statistics New Zealand to give information on the state of the city's retail trade industry following the earthquakes in the region.

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