Retail Sales Decrease 4.4% In February 2019

May 23, 2019 | 28 Comments

After adjusting for the retail sales rate of inflation – measured at 2.0% in February – the overall volume of retail sales declined 4.4%, according to the recently released Retail Sales Index.

“All retail sectors recorded declines in sales volume with motor vehicle stores recording the largest volume decrease of 16.7% followed by apparel stores which recorded a 7.2% decline in sales volume,” the report said.

“In value terms, retail sales decreased 2.5% to an estimated $79.8 million. Excluding Sundays, there were 24 full shopping days, the same as in February 2018.”

Chart extracted from the report:

2 February 2019 Retail Sales publication

Minister for the Cabinet Office Wayne Furbert explained, “After adjusting for the retail sales rate of inflation, measured at 2.0 per cent in February, the overall volume of local retail sales fell 4.4 per cent.”

The Minister also explained, “Imports via courier increased $0.9 million to $11.6 million. Declarations by returning residents via the airport, imports by households via sea and via the post office remained unchanged at $3.3 million, $0.6 million and $0.4 million, respectively.”

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

  • Motor Vehicle Stores’ sales volume fell 16.7 per cent.
  • Apparel Stores’ sales volume decreased 7.2 per cent.
  • Service Stations’ sales volume down 5.1 per cent.
  • All Other Store Types’ sales volume declined 4.8 per cent.
  • Building Material Stores’ sales volume declined 4.0 per cent.
  • Liquor Stores’ sales volume declined 3.3 per cent.
  • Food Stores’ sales volume declined 2.0 per cent.

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

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Comments (28)

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  1. Sandgrownan says:

    How’s that declining economy working out for ya? Still happy about lack of immigration reform?

    No ideas, no excuses.

    • Wahoo says:

      Oj, mixitup and the rest are happy in lala land. Glad that they chased off billionaire tourists, oblivious to the disaster in the real estate market, comforted that their tax dollars are being ill spent and completley unashamed by their gullibility.

      • inna says:

        The funniest of them all is Burty traversing the world talking to billionaires, trying to bring them back!!!!

  2. Trump supporter says:

    Let’s hear from the coffee shop now.

  3. Onion Peels says:

    Trying to sneak this out a few hours before a long weekend, you know it’s awful. Service station sales, liquor store sales, food sales, all down indicating fewer people here than last year.

    One of the few “bright” spots – pharmacy sales increased. Remaining Bermudians require more, and more expensive, medicines to keep them alive.

    Oh well, fewer people here; the plp will just have to raise taxes on those that are left to cover those party bills.

  4. Question says:

    Maybe retail sales will go back up with them increasing taxes left right and centre and increasing healthcare costs by thousands a year.

  5. Ringmaster says:

    The PLP must think falling retail sales are good. It means the cost of living is reducing, just as they said it would. Makes sense, less sales less expenses. Twelve months in a row. Reads like a recession to me. So much for a balanced budget, let alone a surplus, this year. No chance with all the new expenses from increased Civil Service and PR spin doctors like Furbert.

  6. Mb says:

    Interesting that food sales down but food sold value up!
    Yes it is concerning and the grocery stores noticeably
    do not have as much stock and consistent
    varieties they used to as obviously their profits are down
    Perhaps m&a is coming…
    You wonder if businesses are pulling more people than we know out of bda and not Replacing for various business reasons. One firm I heard is sending ia dept to Europe
    Also people are getting poorer not richer due to cost of living in bda exacerbated by new
    taxes on everything – sugar, foreign currency, land, healthcare, etc

  7. rumsoak says:

    25-11 , go on and brag now.

  8. amstel light says:

    congratulations PLP you are truly blind and stupid if you can’t figure there is a severe problem but hey raise taxes and stop peoplecomeing in bunch of blind nimbies

  9. 2 Bermudas says:

    All that money he’s getting paid and he didn’t even bother to put any spin on it?!?! What a waste of money he is!! Hahaha!!

  10. Mark says:

    Pee El Pee = the doom of this island.

  11. campervan says:

    Hows it go OJ?
    “Shut De Island down!!!” LMFAO.
    Happy now? Seems you are getting your wish.

  12. Me says:

    The struggle of living in Bermuda is real and getting worse

  13. OMG says:

    Those people on the hill are gonna trim your salary.

  14. Re-tailed says:

    So glad I left

  15. Miss Smith says:

    This should be the biggest story and biggest concern to all Bermudians. Instead, folks are complaining about a song Buju wrote when he was a kid. Bermudians with heads in the sand as usual.

  16. Joe Bloggs says:

    “Minister for the Cabinet Office Wayne Furbert explained, “After adjusting for the retail sales rate of inflation, measured at 2.0 per cent in February, the overall volume of local retail sales fell 4.4 per cent.”

    Thank you Wayne. Now, please will you explain what that means for Bermuda’s economy in the short term, the medium term and the long term?

    • Vote no more says:

      Guy isn’t sure what foot to out the flip flops on, you want him explain that..cmon.
      But I’m sure they’ll blame the OBA

  17. Daren says:

    Ha glad we left

  18. Question says:

    For $2.5m you would think the media consultants could at least tell us why this is good news.

  19. JIMMY says:

    How long do you keeping letting internal demand for goods and serves fall before you change the approach to immigration policy.

    Bermudians first mantra is going to deliver poverty and more working poor to this island than ever before.

    So glad I sold my house and got my kids into good local schools and can afford to eat healthily again. I love Bermuda, but these policies are choking the future out of this island.

    Leaving was the hardest decision of my life to leave my home and birth place, but my children needed a future and we needed to live rather than exist. Hard as it was, these reports confirm we made the right decision for my three children and their future.

  20. Gerry says:

    Bermuda is at the very edge of a fiscal cliff, everyone knows it, but no one will say it. Time to wake up, Bermuda is in a recession and it’s about to get a whole hell of a lot worse.

    A burgeoning civil service is not the answer for employment, it’s making the matter worse. But the PLP won’t care, they will be in opposition at the time and blaming everyone else, whilst still collecting their salaries, expenses and pensions.

    Wake up Bermuda!

    • Toodle-oo says:

      Why do people insist on saying things like ‘Bermuda is at the edge of a cliff’ , ‘Bermuda is at a tipping point’ or ‘Bermuda is at a crossroads’ ?
      That’s all LONG past . We went off the edge back in 2008 and as we fall into the abyss along comes 2017 when we had jet engines strapped to our back to accelerate the plunge !

      But you are right in that it’s going to get a whole lot worse.

  21. Concerned Bermudian says:

    Vote NO CONFIDENCE PLP! OBA get to work!!! You need to gain votes cuz PLP have to go!!!

  22. Fools on this thread says:

    You fools write nonsense

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