New Zealand’s core retail sales growth eased in the latest quarter, with the indicator rising 0.7% quarter-on-quarter, down from a 1.1% increase in the previous period. The updated data, released on 23 August 2026, suggest that consumer spending outside of volatile categories such as fuel and autos is still expanding, but at a slower pace than earlier in the year.
The quarter-on-quarter comparison shows that while demand in the retail sector remains positive, the pace of growth is moderating. The previous 1.1% figure reflected a stronger gain relative to the quarter before it, whereas the latest 0.7% reading indicates some cooling in underlying retail activity. Investors and policymakers will be watching upcoming data to assess whether this slowdown is temporary or part of a broader softening in New Zealand’s consumer-driven growth.