Retail Sales Decrease 2.9% In January 2019

April 18, 2019 | 22 Comments

After adjusting for the retail sales rate of inflation – measured at 1.8% in January – the overall volume of retail sales declined 2.9%, according to the recently released Retail Sales Index.

“All retail sectors recorded declines in sales volume with apparel stores recording the largest volume decrease of 22.8% followed by motor vehicle stores which recorded a 11.8% decline in sales volume,” the report said.

“In value terms, retail sales decreased 1.3% to an estimated $85.8 million. Excluding Sundays, there were 26 full shopping days, the same as in January 2018.”

Chart extracted from the report:

1-January 2019 Retail Sales publication

Minister for the Cabinet Office Walton Brown said,“After adjusting for the retail sales rate of inflation, measured at 1.8 per cent in January, the overall volume of local retail sales fell 2.9 per cent.”

“Declarations by returning residents and declarations via the post office both declined $0.1 million to $4.3 million and $0.4 million, respectively. Imports via courier remained unchanged at $10.1 million while imports by household via sea increased by $0.3 million to $0.8 million.”

The Government said, “Highlighted below are the January 2019 year-over-year changes for each of the seven local retail sectors:

  • Apparel Stores’ sales volume decreased 22.8 per cent.
  • Motor Vehicle Stores’ sales volume fell 11.8 per cent.
  • Service Stations’ sales volume weakened 5.4 per cent.
  • All Other Store Types’ sales volume declined 2.5 per cent.
  • Liquor Stores’ sales volume declined 0.6 per cent.
  • Building Material Stores’ sales volume declined 0.5 per cent.
  • Food Stores’ sales volume declined 0.1 per cent.

The full 2019 January Retail Sales Index is below [PDF here]:

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Comments (22)

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  1. DeOnion says:

    Wow, the plp has set a very unwelcome record indeed

  2. Red rose says:

    Wonder how long it will be before someone does a butterfield

  3. Ringmaster says:

    Now 11 months in a row and yet Walton Brown has nothing to say except repeat what the report says, and he gets paid for this. Sales just above 2014, probably caused by the 2008 global recession. Looks like a spin doctor will need to be hired to assist Walton since he has shown he is incapable of doing his job.

  4. Vote no more says:

    Well done govt.
    Let’s hear the spin on this, probably OBA fault.

  5. Question says:

    And this is what happens when you tell people not to live here.
    PLP. . Creating unemployment.

  6. Wicket Keeper says:

    This is because you cant track all the Fintech related sales for the dozens of companies that are setting up here.

    Thia is still “the next big thing” isnt it?

  7. Triangle Drifter says:

    Declines everywhere except in the size of the civil service.

  8. Andrew says:

    25-11. Good job Bermuda!

  9. Wahoo says:

    Way to go plp.

  10. Sandgrownan says:

    Tick tock tick tock

  11. Richard A says:

    PLP is a discrace. Mickey Mouse running the show…this isnt disney, this is a COUNTRY and you are pathetic at running it

    • Ringmaster says:

      With respect Disney is a very well run organisation. I never understand why the Mickie Mouse name is used as an insult. Bermuda would be better if Mickie and his friends ran it, rather than this bunch of clowns let go from a circus.

  12. Jason says:

    Folks buckle up things ate not working inder this government all the warnings signs are with us daily

  13. Joe Bloggs says:

    And yet when I said the same thing earlier this year I was vilified for saying so

  14. Triangle Drifter says:

    Decrease in sales means a decrease in imports. A decrease in imports means a decrease in duties paid to Government for imports. A decrease in taxes paid will have an effect on the much touted “balanced” budget. Anything to upset the much hoped for “balanced” budget is going to mean the Government will be looking for supplimentaries to get cash to pay the civil service.

    One thing leads to another. This is only the beginning. This is what happens when you have a bunch of people who have a little to no track record of running a sizeable business successfully managing the economy of the whole island.

    Well done voters. You are the first to feel the effects of your choices.

  15. The Blind leading the Blind says:

    At a time when the global economy is strong, and the US economy in particular is booming, the economic decline of Bermuda is becoming ever more deeply entrenched.

  16. PANGAEA says:

    If I live 600 miles west of New York city will things cost me three times as much ?

    Should our visitors pay five times as much for a cool drink and $75.00 for lunch plus grats on middle road .?

  17. Mark says:

    Stock up on Pedigree and old tires OJ.

    • Joe Bloggs says:

      Why do you think OJ will be without a job? If he is not paid by Government he will be paid by the PLP.. He does a very good job.

      • Mark says:

        True – but just like any old Fourth World country only theparty leadership will live like kings.

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