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May retail sales increase by 4.8 percent

percentage points compared to May 1988.Figures released yesterday by the Government Statistics Department show general stores reported the strongest rate of growth for the month with sales rising by 7.9 percent but individual stores had mixed results.

percentage points compared to May 1988.

Figures released yesterday by the Government Statistics Department show general stores reported the strongest rate of growth for the month with sales rising by 7.9 percent but individual stores had mixed results.

The inflation rate for May was 2.3 percent.

Overall the gross turnover in retail sales -- the amount spent on goods -- was $52.6 million.

Outside of the Cup Match and Christmas months of July and December 1998, May was the most successful month for business outside since January last year.

Department stores catering to tourists had a flat month in May.

Returning residents declared $2.93 million worth of goods bought overseas, an increase from last year of 10.6 percent.

Hardware stores continue to see more business due to the construction boom and while appliance sales increased, furniture sales were flat.

Liquor stores had a drop in sales of .02 percent and food stores posted a 7.6 percent gain in sales.

Car dealers with new models saw an increase in sales but dealers with low inventory experienced a drop in sales. Overall, the motor vehicle and service station sectors of the economy recorded a 7.6 percent increase in sales.