Breaking News: Retail sales fall
Created: May 13, 2009 11:00 AM
Retail sales fell $1.3 million in March, according to statistics released by Government today.Consumers spent $88.8 million on goods during the month — down from $90.1 million in 2008 — with experts saying households remain reluctant to spend on non-essential items.This represents a fall of 1.4 percent, or 6.2 percent after the inflation rate is taken into account.
Retail sales fell $1.3 million in March, according to statistics released by Government today.
Consumers spent $88.8 million on goods during the month — down from $90.1 million in 2008 — with experts saying households remain reluctant to spend on non-essential items.
This represents a fall of 1.4 percent, or 6.2 percent after the inflation rate is taken into account.
All sectors reported sales drops, with the exception of food stores and building material stores.
However, the overall fall was not as dramatic as for February, which experienced a 5.6 percent decline in sales, or 11 percent when the inflation rate is taken into account.
For the full story, see tomorrow’s Royal Gazette.
