Retail sales rose 4% in July – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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Retail sales rose 4% in July

The total retail sales estimate in July 2013 rose four percent, or nearly $4 million over July 2012, according to the Retail Sales Index released by the Department of Statistics this morning.

The number is a high for the past year, with the exception of December 2012, when the total retail sales estimate was $103.8 million.

According to the Retail Sales Index released by the Department of Statistics yesterday, consumers spent an estimated $99.2 million on retail goods during the month. Liquor stores and food stores registered the largest gains in sales of 14.5 percent and 9.4 percent, respectively. In contrast, retailers of building materials reported the strongest decline in sales of 9.2 percent.

Overseas spending, by contrast, was down, with residents returning to the Island declared overseas purchases valued at $4.5 million during July 2013. That compares to a $5.2 million in July 2012.

This contributed to a combined local and overseas spending total of $103.7 million, up from $100.6 million a year ago.

After adjusting for the annual retail sales rate of inflation, measured at 1.8 percent in July 2013, the volume of retail sales increased by two percent.

The report noted there were 27 shopping days during the month, one day more than in July 2012.

Increase: Retail sales rose four percent in July

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Published September 07, 2013 at 9:00 am (Updated September 06, 2013 at 11:54 pm)

Retail sales rose 4% in July

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