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January retail sales show slight increase

Retailers saw a slight increase in January trade, with shoppers spending $75.3 million in Island stores, according to the latest statistics.

The figure represents a 0.8 percent increase on sales in January, 2013 after adjusting for inflation. A further $4.2 million was spent by residents overseas.

The increase was driven by car dealers, who enjoyed a 20.6 percent increase in sales over last year. Food and liquor receipts were also up, with alcohol sales jumping 10.4 percent on 2013. According to a report compiled by Government's Department of Statistics, the lifting of a ban on Sunday sales of alcohol contributed to the increase.

Food sales increased by 1.4 percent, although inflation caused food prices to rise by two percent.

And tourist-related stores taking part in the survey also saw an increase in business — up 2.1 percent on last year.

Pharmaceutical stores and boat retailers saw sales increases of 1.4 percent and 0.9 percent respectively.

All other sectors reported a decline in sales compared to January, 2013.

Sales of building materials dipped 7.4 percent, while clothing stores reported a 7.8 percent decline in sales.

And service station receipts dropped by 2.1 percent, attributed to a 3.5 percent decline in fuel prices.

Sales of furniture, appliances and electronics fell 2.9 percent

(Photo by Mark Tatem)

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Published March 07, 2014 at 3:02 pm (Updated March 07, 2014 at 3:02 pm)

January retail sales show slight increase

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