Building boom eases Mixed sales for shops Spending abroad up THE volume of retail sales on the Island fell for the third month in a row, dropping 1.2 percent during the month of October according to the Ministry of Finance.

The monthly index for the total value of retail sales increased by 1.4 percent, with an estimated $48.1 million spent in the month.

Spending on cars, bikes and petrol soared rising nearly 20 percent on the same period last year.

But despite the apparent increase, after adjusting for inflation of 2.7 percent, the total went down by 1.2 percent.

There were 26 shopping days during the month which consisted of four weekends of trading compared to five weekends in October 1999.

The motor vehicle and service station sector -- cars, bikes and gas sales -- posted a double digit increase in sales of 18.3 percent, after going doing in August and seeing moderate rise in September.

Motor vehicle sales were stronger, reflecting weak sales performances experienced in October 1999. Fuel sales also were up on the year before.

But the gross revenue of the general retail sector fell 4 percent below the level reached in October 1999.

Shops experienced mixed sales performance levels. Hardware stores reported a sharp decline in sales revenue. According to the Ministry of Finance, this was an indication of fewer building contracts as the construction boom eases off.

Sales of pharmaceutical and personal care supplies dipped for the month.

Tourist related sales were down while department store sales on the whole were flat.

Gross receipts for furniture and home furnishings advanced marginally.

Food stores reported a moderate increase in aggregate receipts of 2.4 percent.

Liquor sales, however, fell 6.4 percent below the previous years' level.

Residents returning from overseas vacation and business trips declared $2.75 million in purchases of goods, a 10.9 percent increase on the previous year.

There were 8,870 travellers returning from trips in October 2000, compared to 7,856 in 1999, a drop of 11.4 percent.

Revving up: Expenditure on cars soared, along with that on bikes.