Statistics New Zealand, in its latest data, said that retail sales remained almost flat in October without reporting any traditional spring bounce during the month. Sales rose less than 0.1% in October as compared to 0.3% in the previous month despite rise in investor and consumer confidence.

Stronger retailing in restaurants and cafes helped core sales to rise 0.5%. The sale in the sub-sector raised 10% against sales in the previous month. However, decline in sales of other food related industries such as supermarket and grocery store offset the gains in retail sales.

Retail sales in the automobile segment declined 1.5 per cent, thanks to decline in automotive fuel retailing. Statistics New Zealand informed that retail sales have been growing since February but rate of increase has been declining at a gradual pace.

Clothing and soft goods retailing dropped 6.7 per cent while remaining retail industries reported meager fluctuation in sales. The Reserve Bank of New Zealand is expected to rethink on the monetary policy owing to the recent results by the Statistics New Zealand.