Retail sales fall for third straight month
Retail sales volume fell for a third successive month in November last year, the Department of Statistics reported today.
The 1.7 per cent year-over-year fall in sales at local outlets, adjusted for inflation, was announced just three days after the October retail sales data was released, showing a 7 per cent drop — the largest drop recorded in 3½ years.
Five of the seven sectors measured in the Retail Sales Index saw sales volume declines. Building material stores experienced the largest fall, seeing their sales plunge 15.5 per cent from November 2024. This came hard on the heels of the sector’s 21.3 per cent fall in October.
Apparel stores and liquor stores each saw a 5.4 per cent decline.
Motor vehicles stores saw sales volume soar by 22.3 per cent year over year, recording growth for a ninth month out of ten, and rebounding from October’s 12 per cent sales drop.
In total the RSI estimated that $108.9 million was spent at local retailers, a year-over-year increase of $1.7 million.
Excluding Sundays, there were 25 shopping days last November, one less than in November 2024.
Overseas declarations fell 7.5 per cent to $29.8 million. The decrease reflected a $1.2 million decrease in imports via courier, which totalled $15.5 million, and a $1.5 million fall in declarations by residents at the airport, which totalled $4 million.
Imports by households via sea increased $0.4 million to $9.7 million, while imports via the Bermuda Post Office decreased $0.1 million to $0.6 million.
• See the full report from the Department of Statistics under Related Media
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