Retail Sales Decrease 4.3% In August 2018

November 20, 2018 | 30 Comments

After adjusting for the retail sales rate of inflation – measured at 2.9% in August – the overall volume of retail sales fell 4.3%, according to the recently released Retail Sales Index.

“Four of the seven retail sectors recorded declines in sales volume with motor vehicle stores recording the largest sales volume decrease of 29.0%. In contrast, food stores and liquor stores recorded the largest sales volume increases of 1.5% each,” the report said.

Chart extracted from the report:

8-August 2018 Retail Sales publication

“In value terms, retail sales declined 1.4% to an estimated $97.7 million. Returning residents declared overseas purchases valued at $6.4 million, which was 3.0% lower than August 2017. This contributed to a combined local and overseas spending of $104.1 million.”

The full 2018 August Retail Sales Index is below [PDF here]:

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Comments (30)

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  1. question says:

    The economy is flatlining. And they want to increase taxes.
    Clueless.

  2. lol says:

    PLP doing a great job lol

  3. sandgrownan says:

    tick tock tick tock…

  4. You get what you vote for says:

    Thanks PLP!

  5. 2 Bermudas says:

    But but…. Cyrpto Burt says de economy is booming!! I guess people ain’t buying as much titty milk!! Ha ha ha!!

  6. january says:

    Things are going well then?

  7. Onion says:

    OBA ended the recession and turned around the economy. PLP have put us back in recession and are going to tax us to death next.

    Don’t blame the OBA when your wallets hurt.

  8. DeOnion says:

    By august the AC had finished … so real bad figures

  9. Not exactly says:

    Burt’s going to start running out of things to blame it on

  10. WSP says:

    I think we need a townhall meeting to explain the fall.LOL

  11. Vote no more says:

    Wow amazing again.
    What the gov going to do,,, crickets!!

  12. Flatliners says:

    This isn’t politics its the economy.

    Its OUR economy, not the politicians, its each and everyone of ours and it needs HELP!!! Bermuda’s economy is sliding back into the tank.

    Tell your political representatives to focus on the important stuff and get this country back on its feet. Manage the debt, increase the tax base through increased population and eradicate the red tape mentality!

    Too much time is wasted on spin and blame.

    We all have a responsibility to tell the politicians loud and clear to get focussed on fixing the economy!!

    • Wahoo says:

      Problem with increasing population is that plp are anti foreigner and they have made that clear. So tax rental income all you want but be forewarned the rents are falling so that will dry up. If plp don’t like the heat tell them get out.

  13. J Austen says:

    The country needs (living) bodies, that simple. The calculation back in the day was for every six expats, an extra job for a Bermudian is created. Make it business friendly and forget more taxes. Get with it guys!

    • Vote no more says:

      They are go8ng to have to and I can’t wait to see if the peanut gallery and marchers act like they did when the OBA done this.

  14. Aw says:

    Can’t find nowhere to park in Hamilton without spending a weeks pay on expensive parking lots! The Corporation of Hamilton is gradually killing retail store sales in Hamilton!

    Give us free parking for one weekend a month and I guarantee you will see retail sales skyrocket – just try it and see!

    • Wahoo says:

      You are kidding me right? Parking is easy and not expensive at all. The only thing about going to town that bothers me is the bums – they are worse than ever. Corporation needs to hire a group of bouncers just like they hire meter maids. Maybe put them all in a truck and take them to drebs house for the day.

      • Seriously says:

        The bums are bad. I’m 22 years old and they ask me for money! Like dude, I need money too and a decent job and you’re out here asking me for money?!?!

    • 2 Bermudas says:

      Bike parking is free. Maybe take a bus? Bicycle? Walk? Ferry. Hamilton has always charged for parking!!

      Titty milk drinka!!

      • Aw says:

        Pi$$ off dumb a$$! I don’t need a bike to shop fool! If you want retail sales to climb then stop “taxing” parking!

    • sandgrownan says:

      Bollocks. Complete bollocks.

  15. Double S says:

    Wait till the raft of new taxes come into play…then you will see near double-digit declines.

  16. Sara says:

    This number will continue to grow with the increase in taxes. Increasing taxes will further shrink the economy and increase unemployment. Tough times are coming again…

  17. topranking says:

    This just in…we have a response from the government on the state of the economy…..https://youtu.be/K8E_zMLCRNg

  18. Sooo says:

    Why are level headed bermudians not marching on parliament like the die hard PLP followers were doing for issue that were no where near as grave as what’s currently happening? Bermudians need to stand up and doing something about this. The only thing need for evil to prosper is for good people to do nothing. There should be protests galore but it seems people have more of a voice in the comments of Bernews and the royal gazette.

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