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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

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

Retail sales up 2.1% in June

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