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Retail sales rise for seventh month

Fuel drop: Plunging gasoline prices caused gas station takings to fall in February

Retail sales rose for the seventh successive month, according to Government data released yesterday.

Motor vehicles logged the biggest jump in the latest survey of buying habits.

Cars, bikes and truck sales rose by 18.8 per cent in February compared to the same month in 2014 and an 18.1 per cent increase overall.

But gas stations were the biggest losers, with sales dropping by 13.2 per cent — the fourth successive month of decline in the sector.

The fall in gas stations receipts was attributed to a 16.7 slump in the price of fuel, which offset a 4.1 per cent increase in the volume of sales.

The total local and overseas spend for the month totalled $76 million.

The retail sales index for February was 2.4 per cent higher than the same month the previous year, reduced to 2 per cent after factoring in the 0.3 per cent inflation rate.

Sales of building materials also rose, up by 4 per cent compared to the same period last year based on gross receipts and 3.6 per cent in sales volume.

Statisticians said that an increase in residential contract jobs had fuelled the increase.

Food sales also went up, by 3.9 per cent, while liquor store purchases went down by 0.1 per cent.

And people bought more clothes, with the sector notching up a 3.4 rise in sales revenue and a 6.2 per cent increase in sales volume.

But sales in all other store types fell by 1 per cent — except in tourist-related stores, whose gross receipts rocketed by 60.4 per cent, which was attributed to increased demand for jewellery.

Pharmaceutical sales also went up slightly compared to February 2014, registering a 0.8 per cent increase.

But sales of furniture, appliances and electronics fell by 9.6 per cent and marine and boat sales plunged by 27.1 per cent.

After adjusting for inflation, the “all other store types” registered a 2 per cent contraction.

Residents returning to Bermuda declared $3 million worth of overseas buys, the same level as February last year.