Retail sales in July stayed in positive territory, increasing 1 per cent in value year-on-year. Sales of $104.1 million were recorded.

After adjusting for the annual retail sales rate of inflation, which was 0.3 per cent in July, the volume of retail sales rose 0.7 per cent.

Building materials stores registered the largest rise in sales receipts of 15 per cent, this was due to greater demand for supplies to support ongoing projects. Adjusted for inflation, the sales volume was up 11.6 per cent.

Five of the seven sectors experienced revenue increases, according to the July Retail Sales Index publication.

Food and liquor sales were up 0.7 per cent and 8.5 per cent, respectively, in terms of value. However, food stores saw a 0.9 per cent decrease in sales volume.

Store promotions and increased inventory helped apparel stores to a 7.1 per cent increase in sales volume, year-on-year.

Service stations took in more revenue, up 1.7 per cent thanks to a 7.5 per cent increase in the volume of fuel sold as customers took advantage of lower fuel prices and sales promotions.

Things were not so rosy for motor vehicle sales, which slipped 6.9 per cent in value when compared with July 2015. The number of cars and motorcycles sold was down 5.6 per cent.

Returning residents declared overseas purchases valued at $4.4 million, which was 4.3 per cent lower compared with the corresponding period last year. This contributed to a combined local and overseas spending of $109.6 million.

The data was released by the Bermuda Government’s Department of Statistics.

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