Retail sales jump by 6.8 percent
subsequent strong growth in sales during March.
Gorss turnover for the month was estimated by the Statistics Department at $44.8 million, a real growth of 6.8 percent compared to March 1998, after accounting for an inflation rate of 1.9 percent.
Sales at food and general stores showed the strongest growth, followed by liquor outlets. Declines occurred in the motor vehicle and service station sector.
Food stores posted a 10.2 percent real increase. Stores in the general retail category collected 9.5 percent more at the cash register. "Department stores posted results as did hardware stores who explained their sales performance as being a consequence of the continuing strength in the construction industry,'' the Statistics Department reported. "Furniture and pharmaceutical sales were also up significantly, due to special promotions and store remodelling.'' Statistics noted that tourist-oriented stores had flat sales despite of the increase in visitor arrivals in March.
Meanwhile motor vehicle and service station outlets continued to see declines, which began in January. The sector had a 4.9 percent real decrease in sales.
BUSINESS BUC
