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NZ retailers not suffering as much as overseas
Media release
Newmarket Business Association
Wednesday 21 January 2009
NZ retailers not suffering as much as overseas
The country's leading shopping district says Statistics New Zealand's latest November retail figures are proof that New Zealand retailers are not being hit as hard as their overseas counterparts.
Today Statistics New Zealand reported “the trend in total retail sales was flat,” surprising some economists who were expecting a marked decline.
"We have yet to see any overly dramatic drops in retail spending unlike what's being reported in the likes of the US and UK. New Zealand is holding up relatively well. In comparison the United States had its worst December in retail for nearly 40 years," says Cameron Brewer, head of the Newmarket Business Association.
“We're anticipating December 2008 retail figures across New Zealand to be not too dissimilar to December 2007, helped by a record breaking a Christmas Eve and Boxing Day.
"The year is still young and we've got bad weather ahead of us. However New Zealand's retailers are going into 2009 in a stronger position than many other retailers around the world," he said.
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