Retail sales fall for the fifth time in nine months
Retail sales dropped in September as food stores sales fell 4.8 per cent and previously robust vehicles sales were virtually flat.
It was the fifth fall in retail sales in the first nine months of 2025, and the eighth time since August 2024.
This comes just days after the Minister of Economy and Labour reported that the third-quarter 2025 Gross Domestic Product demonstrated the Bermudian economy had grown by nearly 10 per cent after adjusting for inflation.
Jason Hayward said it was the largest quarterly growth experienced by the economy since the 10.2 per cent recorded in the second quarter of 2021.
He added that the figures “tell a powerful story about Bermuda’s resilience, economic acceleration and the collective confidence in Bermuda”.
He said: “These results are more than numbers; they reflect the strength of our people, the stability of our institutions and the demonstration of an economy that continues to outperform expectations.”
That optimism was not present in shopping patterns in the year to September.
The Government has now said shoppers purchased 1.4 per cent less by volume than the prior September, an indication they were not feeling the “robust” economy referred to by Mr Hayward.
Three of the seven sectors recorded year-over-year volume index decreases, including food stores, which saw a 4.8 per cent drop.
Liquor store sales volume decreased 5.6 per cent and clothing dropped 6 per cent.
Motor vehicle stores’ sales volume rose 2.8 per cent compared with 0.6 per cent for the same period in 2024. They rose 20.2 per cent in August and had recorded double-digit increases in sales in four of the previous seventh months.
Service stations’ sales also went up 4 per cent, although building materials saw a jump of 17.9 per cent.
There was also a rise of 4.6 per cent in sales volume in the “All other” category, which includes household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods.
Selected overseas declarations went down 1.8 per cent compared with the same period the previous year.
• For more on the September 2025 Retail Sales Index, see Related Media
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