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Volume of retail sales rises to $56m

The volume of retail sales in September rose to $56 million according to the latest figures released by the Department of Statistics. Adjusted for inflation, sales increased 4.9 percent over last year when Hurricane Fabian caused a slowdown in island spending.

Last September?s sales were down 1.3 percent from September 2002.

Every sector in the monthly survey of a sample of reporting stores experienced a gain in gross revenue flows during the month.

Apparel stores and building and hardware outlets led the index with year-over-year increases of more than 15 percent.

Consumer outlays on clothing, footwear and accessories climbed 27.8 percent during the month.

The Department of Statistics says that besides weaker than normal sales in the same month last year, season-ending sales and other new promotional activities contributed to increased consumer demand for apparel items during September 2004.

The report said: ?In September 2003, Hurricane Fabian caused many Reid Street stores and other apparel outlets to temporarily close for business.

In addition, the hurricane also prevented tourists from visiting the Island, contributing to the downturn in sales for apparel stores during the same period last year.?

The Retail Sales Index also reports double digit sales for building materials and hardware outlets during the month.

This sector recorded an 18.2 percent increase over September last year. Food stores registered a sales gain of 6.3 percent over the corresponding period in 2003.

Gross receipts for liquor stores moved up 4.3 percent from September last year. After posting a strong sales month in August, motor vehicle dealers showed a modest increase of 2.3 percent during the month.

Gross sales for service stations were 3.3 percent higher than in September 2003 while the all other store type sector reported a slight sales growth of 0.5 percent.

Consumers spent more on pharmaceuticals and personal care products compared to September 2003, while furniture sales also increased over the same period.

Sales of appliances and electronics dropped off from last year as did sales at marine supply outlets.

After remaining relatively static last year as a result of hurricane Fabian, overseas spending levels rose for the 11th consecutive month in September.

Overseas spending increased by 14.1 percent to $4.1 million during the month.

Hurricane Fabian caused a reduction in resident travel abroad during the previous year. As a result, the number of returning residents who declared overseas purchases jumped 27 percent in September 2004, contributing to an increase in overseas spending.