sales to a 2.6 percent increase over last year, statistics released yesterday by Government Information Services reveal.

The increase -- when adjusted for an inflation rate of 2.4 percent -- registers a modest 0.1 percent boost in volume over November, 1995. The report notes, however, that there was one more Saturday in November, 1996 than in the same month in 1995.

"I would have to say on balance that the retail sector has had fairly positive growth, though November's figures have probably been influenced by a surprisingly strong performance in October,'' Minister of Finance Grant Gibbons yesterday told The Royal Gazette .

October posted a solid retail performance of 4.7 percent, he said, and consumers may have been holding back a little before the onset of the holiday season.

"However we've had a fairly strong first half of the year, which tapered off a little in June then picked up again in July,'' he added.

The transportation sector lead the charge in November, riding a 6.5 percent increase in motor vehicle and service station products. Demand for food followed with a healthy five percent increase over 1995.

Sales in the combined stores type increased by 0.7 percent, led by strong local demand for clothing, furniture, and pharmaceuticals. Sales of big-ticket items such as home appliances and hardware goods were off, however.

Liquor sales were also down by 4.4 percent, continuing a downward trend first recorded in August, 1996.

For the first 11 months of the year, the estimated value of retail sales was $450 million, a 1.6-percent increase year over year, but after allowing for inflation the actual volume of sales has fallen by .08 percent.

Meanwhile residents returning from overseas during November declared purchases valued at $3.42 million, down 22.4 percent from November, 1995.

The decrease in overseas shopping is good news for the Islands, balance of payments, said Dr. Gibbons, who said some 12,000 fewer trips abroad were taken in November.

Grant Gibbons