New Zealand's retail sales volume saw a 0.9% rise in Q4 2024, driven by accommodation and food sectors.

New Zealand's retail sales volume rose 0.9% in the December 2024 quarter, exceeding forecasts. Accommodation saw the largest increase with sales up 11%, contributing $141 million. Food and beverage, and electrical goods also showed growth. Westpac economist Satish Ranchhod attributes the rise to falling inflation and interest rates, increased consumer confidence, and higher mortgage re-fixing rates. However, he notes potential growth limitations due to rising unemployment and possible inflation increases.