October retail sales
Liquor stores’ sales plunge
Retailers took 1 per cent more at the till in October than they did in the same month in 2016.
But after adjusting for inflation, retail sales volume fell by 0.5 per cent, the second successive decline.
The Retail Sales Index, published today by the Department of Statistics, showed that liquor stores suffered the largest fall in sales volume, 13.6 per cent, while food stores’ sales dipped 5.4 per cent.
Retailers attributed the decline in sales to higher demand in 2016 as a result of consumers preparing for Hurricane Nicole.
Motor vehicle dealers recorded the largest gain in sales volume of 15.8 per cent.
Building materials stores saw a 1 per cent increase in sales volume, while service stations’ sales grew 1.6 per cent, helped by a 4 per cent increase in the price of premium fuel.
In value terms, retail sales rose 1 per cent to an estimated $92.5 million.
Returning residents declared overseas purchases valued at $5.1 million, which was 21.4 per cent higher than October 2016. This contributed to a combined local and overseas spending of $97.6 million.
Excluding Sundays, there were 26 shopping days during the month, the same as in October 2016.
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