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Another fall in retail sales

Retails sales have fallen yet again - giving struggling shop owners no respite from the recession.

According to the Retail Sales Index released this morning, sales in June fell by 2.7 percent below the $93.1 million recorded in June last year.

The report says: “Consumer demand weakened for five of the seven retail sectors. Motor vehicles stores experienced the largest decline recording a 24.9 percent drop in sales. In contrast, retailers of service stations and apparel stores recorded increases of seven percent and 3.3 percent, respectively.

“Residents returning to the Island declared overseas purchases of goods valued at $4.9 million during June. This was 14 percent lower than the $5.7 million declared in June 2010. Combined local and overseas spending totalled $95.5 million.

“After adjusting for the annual retail sales rate of inflation, measured at 3.8 percent in June, the volume of retail sales fell by 6.3 percent.”

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Published August 18, 2011 at 10:00 am (Updated August 18, 2011 at 10:57 am)

Another fall in retail sales

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