Today the Minister for the Cabinet Office the Hon. Wayne Furbert, JP, MP, released the August 2019 Retail Sales Index publication from the Department of Statistics.
The Minister explained, “After adjusting for the retail sales rate of inflation, measured at 0.7 per cent in August, the overall volume of local retail sales decreased 7.6 per cent. Meanwhile, total selected overseas declarations decreased 0.5 per cent in August 2019 compared to August 2018. Overseas declarations includes imports received via courier, residents through the airport, households by sea and the post office.”
Highlighted below are the August 2019 year-over-year changes for each of the seven local retail sectors:
- Motor Vehicle Stores’ sales volume decreased 20.5 per cent.
- Building Material Stores’ sales volume declined 15.0 per cent.
- Liquor Stores’ sales volume decreased 11.7 per cent.
- Apparel Stores’ sales volume declined 11.4 per cent.
- Food Stores’ sales volume decreased 7.8 per cent.
- All Other Store Types’ sales volume decreased 3.9 per cent.
- Service Stations’ sales volume decreased 1.5 per cent.
Minister Furbert added, "It should be noted that the large decrease in liquor and food sales reported in August 2019 when compared with August 2018 can be partly attributed to the timing of pre-Cup Match sales which took place in July this year and August last year. This means we are not strictly comparing 'like' for 'like' for this particular retail sector."
The August 2019 Retail Sales Index publication is available online at https://www.gov.bm/retail-sales-index-rsi.