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August retail sales tumble

Retail sales fell by more than three percent in August compared with the same month last year.

The volume of sales also fell, down more than four percent after adjustment for inflation.

The figures marked a reversal from July when retail sales rose 4.1 percent.

In the latest numbers from the Department of Statistics, building materials outlets showed the biggest drop in takings — down 17.5 percent year on year.

The total spend by residents for the month was $88.5 million, with $6.5 million in declared purchases overseas, less than the $7.1 million spent in August the year before and a 8.5 percent fall.

Sales at service stations also dropped, with 6.7 percent fewer sales, attributed to falling gas sales and a reduction in fuel prices during August.

Vehicle sales also saw a decline of 3.1 percent although car sales were up, the number of trucks and motorcycles sold fell.

In the food and liquor sector, stores also logged a decline, with sales dropping by 1.3 percent year on year.

All other store types saw drops in sales in August, down 2.8 percent.

Sales of furniture, appliances and electronics dropped by 6.4 percent, while boat and marine supplies stores saw their take in August fall 5.5 percent.

Pharmaceutical sales, however, only saw a 0.7 percent fall in sales, while clothing stores logged a 0.4 percent fall in sales.

But tourist-related shops saw a slight increase of 1.1 percent compared to the same period last year.

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Published October 04, 2013 at 4:51 pm (Updated October 05, 2013 at 12:02 am)

August retail sales tumble

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