Retail sales fall over Easter period
released this week. And for the third consecutive month, the volume of sales fell.
April figures showed a fractional decline of 0.8 percent in the total value of retail sales year-over-year with gross turnover estimated at $38.6 million.
But slackening visitor and domestic demand was blamed for the 1.5 percent fall in gross revenue for retail stores compared with April last year.
Even strong sales in kite materials and Good Friday weekend supplies failed to reverse the stronger declines in clothing, footwear, home appliances and furniture sales. Liquor sales also fell by 3.5 percent year-over-year.
But the decline was most marked in the motor vehicle and service station sector.
While petrol sales surpassed last year's levels, car sales dropped sharply forcing aggregate receipts down by almost nine percent down. The fall in car sales was attributed to higher prices which retailers blamed on the weakness of the dollar on foreign exchange markets.
Tourist related stores also reported reduced sales -- a direct reflection of the ten percent decline in April arrivals.
Meanwhile, Bermuda's residents spent more than $2 million overseas in April -- 4.7 percent less than last year.
