New Zealand retail sales dropped -2.7% qoq in Q4, below expectation of -0.5% qoq. Ex-auto sales dropped -3.1% qoq, versus expectation of -0.6% qoq. That same after strong reboun dof 27.8% qoq in retail sales in Q3.
Nevertheless, comparing to Q4 2019, total value of retail sales rose 4.9% yoy. Total volume of sales rose 4.8% yoy. 13 of the 16 regions showed higher sales values.