Quarterly retail sales growth exceeded expectations, signaling resilient consumer demand amid economic uncertainty.
New Zealand’s retail sales increased 0.9% quarter-over-quarter in Q1 2026, surpassing the 0.6% estimate. The annual gain reached 4.5%, up from 4.4% in the prior period, reflecting steady consumer spending.
The print matched the previous quarter’s 0.9% rise, defying expectations of a slowdown. Analysts had anticipated weaker demand due to higher borrowing costs and inflation pressures.
The data may influence Reserve Bank of New Zealand policy discussions, though no immediate market reaction was reported.