shape with the value of retail sales up 4.9 percent over the corresponding month last year.

Gross turnover in the retail sector was estimated at $55 million for the month. After adjusting for the annual rate of inflation the volume of retail sales increased 1.9 percent year-over-year.

The strongest gains were seen in the motor vehicle dealers and service stations sector where sales revenue increased a whopping 20.3 percent.

Analysts reported that the volume of cars and motorcycles sold for the month, remained high as dealers received new stocks.

A rise in the price of gasoline contributed to sales for the fuel surpassing 1999 levels.

Food store sales increased 4.5 percent while liquor sales showed no movement.

Gross revenue flows for the general retail sector increased a marginal .7 percent year-over-year. There were mixed results for participating stores in the sector but strong sales of electronic and entertainment equipment heavily influenced the rise.

In contrast furniture sales contracted while department store sales shrank below the level reached in May 1999.

Overseas spending in May was up 13.6 percent over last May as returning Bermuda residents declared $3.33 million worth of goods.