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Bermuda faces a “fiscal cliff” if its debt-to-revenue ratio, currently at 340 per cent, continues to rise. An adverse but “far from inconceivable” scenario would see Government debt on an unsustainable trajectory, leading to a credit rating downgrade...

The Construction Association of Bermuda is “encouraged” by Government’s $13.4 million short-term economic stimulus programme but says it has missed an opportunity to support training in the trades, the organisation’s president said yesterday. Simon T...

Bermuda’s annual inflation rate remained negative for a third consecutive month in September. The rate was -0.7, the same as reported in August. In July the island recorded its first negative inflation rate since 1965. Consumers paid 0.7 per cent les...

Retail sales jumped 9.2 per cent in volume in August, after adjusting for retail inflation of 0.7 per cent that month. In value terms, retail sales increased year-over-year was about $9 million, or 10.1 per cent. Apparel stores reported a 28.4 per c...

There is a risk that the impact on Bermuda’s economy from the Covid-19 pandemic may be more severe and longer lasting than currently anticipated. That warning comes even as the projected fall in the island’s gross domestic product this year has been ...

On-island shopping habits have changed as a result of the Covid-19 pandemic, and in some ways it is having a positive impact. “People are travelling less, so there is a chance they will do more shopping online. But also, because they are travelling l...

Retail sales rose in July on the back of pent-up demand for construction materials and a spike in boat purchases. After adjusting for inflation, retail sales volume was up 1.5 per cent from July 2019. In value terms consumers spent an estimated $105....

Employment income plunged by more than $113 million during the second quarter as restrictions to curb the spread of Covid-19 sparked a wave of layoffs and reduced hours. Data released by the Department of Statistics offer a glimpse into the economic ...

The inflation rate was zero in June, meaning consumers paid the same as they did a year earlier for a basket of goods and services. It was the second monthly Consumer Price Index report this year to show a zero inflation rate, after April, the month ...

Policymakers are gambling that they will be able to pay back the large increases in national debt accrued in response to the Covid-19 pandemic. As Covid-19 brought economies to a standstill, many governments threw a lifeline to businesses and househo...