Retail sales up 2.9%
Retail sales in August increased 2.9 per cent above the $91.4 million recorded in the same month a year ago.
During the past year retails sales have improved every month apart from May, when they fell in volume and value.
In August, five of the seven sectors experienced increases in sales revenue. Building materials stores registered the largest rise in sales receipts of 17.5 per cent, due to greater demand for increased inventory for large projects and renovations.
Motor vehicle stores recorded the largest loss in sales of 2.2 per cent, as the number of vehicles sold decreased by 1.6 per cent.
Returning residents declared overseas purchases valued at $6.4 million, which was 4.5 per cent lower than August 2015. This contributed to a combined local and overseas spending of $100.5 million.
After adjusting for the annual retail sales rate of inflation, measured at 0.7 per cent in August, the volume of retail sales increased 2.3 per cent.
The August retail sales volume index was 99.7, compared with 97.5 a year ago.
The figures were released by the Bermuda Government’s Department of Statistics.
Warning over mobile phone charges
Premier targeted by fake news website
MarketPlace acts to stop carts straying
OBA had chance to discuss race when in power
Hunt for new Cabinet Secretary
Hotel evacuated after water pipe bursts
Marathon celebration for 70th birthday
Bermuda pays tribute to Regis
Azura hotel will welcome guests in 2019
Abandoned boat is a blot on the landscape
Outlet for Bermudian-made products
Internet danger is ‘uncharted territory’
Minors cheered on by his biggest supporters
What will change under the new US tax law
So much more than just horseplay
Take Our Poll