and September.

And Bermudians pumped more than $6 million into overseas stores during the same period.

Since January, residents have spent some $15 million at stores abroad. The figures were revealed in the Bermuda Quarterly Bulletin of Statistics, released by the Department of Statistics yesterday.

The bulletin also showed Government revenue in the third quarter of the year fell by three million dollars compared to the same period last year.

Expenditure, meanwhile, increased by seven million.

The fall-off was due in part to third-quarter air arrivals falling 2.2 percent below last year's level, cruise passenger arrivals declining 2.9 percent, and tourist spending dropping 3.2 percent. Revenues from Customs dties and employment tax also fell.

Revenue for the year so far stands at $259 million with total revenue for 1991 having amounted to $339.5 million.

Finance Minister the Hon. David Saul was counting on at least some of the lost revenue to be picked up in the fourth quarter.

He said yesterday he expected that October, November and December results -- compared with the same quarter last year -- would show "definite improvement and a bottoming out of the recession''.

But by the end of the financial year next March, Government would still have suffered revenue losses of between $15 and $19 million, he said.

As a result, a "dramatic reduction'' in the current account balance was expected.

Government should end up with a current account balance of $7 million instead of the $26 million forecast at the beginning of the year.

Dr. Saul said it was clear from statistics that the Island was still deep in recession.

He doubted spending overseas had increased by as much as 15 percent, saying that residents were declaring more purchases abroad due to "the increased vigilance'' of Customs Officers.

The bulletin showed third-quarter local retail sales slipped 2.1 percent below the level reached in the same period last year.

Gross turnover in the retail sector was estimated at $118.2 million. An expenditure analysis showed most of the $6.1 million in purchases declared by people returning to the Island from trips abroad were in the clothing, electronic, furniture, toys and appliance categories.

Overseas purchases in computer products and jewellery and watches, however, declined, by 15.3 percent and 4.1 percent, respectively.

The bulletin further showed: Hotel industry employment declined five percent year-over-year, with major hotel properties employing 200 fewer workers than they did during last July, August and September.

Construction spending by both Government and private developers was valued at an estimated $143. 1 million during the third quarter, an increase of 8.3 percent compared to the same period in 1991.

Government accounted for more than 70 percent of the value of work put in place with the continued building of the new prison and incinerator.