22.02.202621:45:00UTC+00New Zealand Q4 Retail Sales Growth Cools to 0.9%, Down from 1.9% in Previous Quarter

New Zealand’s retail sector lost momentum in the final stretch of 2025, with quarter-over-quarter sales growth easing to 0.9% in the fourth quarter from 1.9% in the third quarter of 2025. The latest figures, updated on 22 February 2026, point to a clear moderation in consumer spending as the year drew to a close.

The data are based on quarter-over-quarter comparisons: the current 0.9% reading measures the change in retail sales in Q4 2025 versus Q3 2025, while the previous 1.9% figure reflected the change in Q3 2025 compared with Q2 2025. The slowdown suggests that the robust pace seen mid‑year did not carry through into the final quarter, signaling a more cautious consumer backdrop heading into 2026.

For analysts and investors, the deceleration in retail sales growth could feed into broader assessments of New Zealand’s economic trajectory, with attention likely to focus on whether softer household demand persists in coming quarters or proves to be a temporary pause after earlier strength.