Retail sales volume rises

  • Sales spike: apparel stores saw strong receipts in January (Source: Department of Statistics)

    Sales spike: apparel stores saw strong receipts in January (Source: Department of Statistics)

Retail sales volume rose for the first time in five months in January.

The Department of Statistics reported today that retail sales in Bermuda climbed 3 per cent year over year to $87.1 million in January.

After adjusting for inflation the increase was 1 per cent, after four successive months of decreases on this measure.

Three of the seven retail sectors recorded increases in sales volume with apparel stores recording the largest increase of 16.4 per cent, helped by sales offered by retailers.

The next largest sales volume increase was for building material store sales which increased by 3.8 per cent.

Sales volume at food stores weakened 0.1 per cent, while at liquor stores they fell 5.3 per cent.

Fuel sales at service stations increased 2.5 per cent in value terms, but after adjustment for inflation, fuel sales fell 3.1 per cent.

Motor vehicle sellers recorded lower receipts in January, as sales volume fell 6.8 per cent.

Returning residents declared overseas purchases valued at $4.4 million, which was the same as in January 2017.

This contributed to a combined local and overseas spending of $91.5 million.

Excluding Sundays, there were 26 shopping days during the month, one more than in January 2017.

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Published Mar 28, 2018 at 1:21 pm (Updated Mar 28, 2018 at 1:21 pm)

Retail sales volume rises

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