Log In

Reset Password
BERMUDA | RSS PODCAST

Retail sales up 2.1% in June

Retail sales went up more than 2 per cent in June, Government statisticians said.

Sales in five of the seven sectors increased, pushing the rise to 2.1 per cent and the value from $100.9 million recorded for the same month last year to $103 million.

After adjustment for inflation, measured at 0.5 per cent in June, the volume of retail sales went up 1.4 per cent.

Liquor stores registered the biggest rise in sales, up by 9.1 per cent.

But sales at building material stores fell by the same amount, attributed to decreased demand for construction supplies.

Clothing sales also dropped, down 1.8 per cent in value terms and 0.7 per cent in volume.

The Retail Sales Index report stated: “The decline reflected lower demand for current inventory as well as less customer traffic when compared to June 2015.”

Motor vehicle retail sales rose by 4.9 per cent compared to the same month last year, while the member of vehicles sold went up by 5.6 per cent.

The increase was put down to high demand for new models and sales promotions that month.

Sales receipts for all other store types went up by 3.3 per cent year over year, adjusted to 2.2 per cent when inflation was factored in.

Marine and boat suppliers' gross receipts jumped by 42.5 per cent due to increased sales of “large ticket items.”

Pharmacies reported an increase of 4.1 per cent, but sales of furniture, appliances and electronics dropped by 2.4 per cent.

Tourist-related stores also saw a fall in sales, down 8 per cent.

Fuel sales at gas stations went up 1.3 per cent, attributed to a 5.5 per cent increase in fuel volumes, which was said to reflect a 1.8 per cent drop in the cost of fuel as well as sales promotions throughout the month.

Residents declared a total overseas spend of $4.1 million in June, down $0.2 million on the same month last year.

Moving up: the volume of retail sales for June was higher than the same month last year

You must be Registered or to post comment or to vote.

Published August 26, 2016 at 5:34 pm (Updated August 26, 2016 at 5:34 pm)

Retail sales up 2.1% in June

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon