increase of 0.4 percent when inflation is factored in compared to May 1996.

The May 1997 inflation rate was 1.9 percent. The chart above shows the retail performance over the period.

According to the statistics department, all sectors except for liquor stores, had gross revenue sales growth. Sales in that sector declined in real terms by 4.7 percent compared to May 1996.

Sales in the food store sector increased 2.2 percent. Sales in the motor vehicle dealers and service stations sector increased 1.3 percent. Stores classified under "other'' registered a decline of 0.2 percent with inflation factored in, although gross receipts increased compared to May last year.

"Consumer outlays on retail goods such as household appliances, furniture and furnishing contracted during the month,'' a press release stated about that sector. "Sales activity for building materials and hardware supplies also eased off. In contrast, there was steady demand for clothing items, footwear, pharmaceutical supplies and electronic equipment.'' Residents shopping abroad in May declared retail purchases of $2.4 million in May, a decline of 2.7 percent in real terms using Bermuda's inflation rate.

Purchases overseas fluctuate widely throughout the year.

The index is based on a sample of stores representing an estimated 66 percent of total retail sales in Bermuda.

GOVERNMENT GVT