Local Retail Sales Fall 5% in 2010
Statistics released by Government today [Feb 16], revealed that local retail sales for 2010 fell 5% to an estimated $1.04 billion, compared to $1.10 billion in 2009.
Combined local and overseas retail sales dropped 4% to an estimated $1.12 billion from $1.17 billion in 2009
In December 2010, local retail sales totalled an estimated $106.6 million, a decline of 3.2% or $3.5 million less than in December 2009. Motor vehicle outlets and building material suppliers suffered the largest percentage declines. Additionally, liquor stores and retailers within the all other store types sector also reported falling sales.
The full December 2010 Retail Sales Index is below, click ‘Full Screen’ for increased clarity:
If de foreigners didn’t raise all our rents we’d have more $$$ to spend and not cause dis ressesion.
love to know where they got those numbers…ask any retailer if the were “only” off by 5%…they would die to be only off 5%…..Its bad enough we do not get figures and then when we do they are made up…
Prediction.
Tomorrow the budget will add to taxes which, in turn, will accelerate the demise of local retail sales.
In last year’s budget Cox called 2010 the ‘year of recovery’. Evidently, she was completely wrong.
I wonder what BS title she will have for the 2011 budget. ‘The Platinum Budget’, maybe?
If she does raise taxes as we all expect, the slide will only be more dramatic. People have less money to spend as taxes go up, it’s basic economics. She can’t win.
….tired of flogging this horse. It’s been dead for some time.