The volume of retail sales in New Zealand rose in the last quarter of 2015 compared to the previous three months. However, it failed to meet analysts’ expectations.

According to Statistics New Zealand, the volume of retail sales gained a seasonally adjusted 1.2 per cent in the final quarter of 2015, but this fell short of the downwardly-revised 1.5 per cent pace of the third quarter 2015 forecasts for an increase of 1.4 per cent.

The total sales value of $21.8 billion in the December 2015 quarter was 4.4 per cent, $921 million, higher than the December 2014 quarter.

Tehseen Islam, business indicators manager, said the housing and tourism-related industries had notable increases in the last quarter of 2015, with “the largest in hardware, building, and garden supplies.”

Twelve of the 15 retail industries had higher seasonally adjusted sales volumes in the same period. Hardware, building, and garden supplies were up by 5.3 per cent; fuel retailing up 3.7 per cent; accommodation up 4.8 per cent; and electrical and electronic goods retailing, up by 2.7 per cent.

Statistics New Zealand indicated “when the effect of price changes is included, the seasonally adjusted total value of retail sales rose 1.2 per cent ($231 million). This follows a 1.4 per cent ($271 million) increase in the September 2015 quarter.”