New Zealand's economy showed further signs of slowing Friday as statistics revealed house sales in January dropped to the lowest level in 17 years and retail sales in the December quarter suffered their largest drop since 1997.
Quarterly quarter retail sales fell 1.1 percent, driven downward by an 8.4 percent fall in fuel sales and a 5.3 percent decline in the sale of motor vehicles, the official data agency Statistics New Zealand said. That's the biggest drop since the March quarter of 1997.
Quarterly retail sale volumes have fallen 4.2 percent since September 2007, the agency said.
Meanwhile, the Real Estate Institute of New Zealand said 3,706 …
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