Retail Sales Decreased 3.2% In November
Today [Feb 20] the Minister for the Cabinet Office Wayne Furbert released the November 2019 Retail Sales Index publication from the Department of Statistics.
The Minister explained, “After adjusting for the retail sales rate of inflation, measured at 1.1 per cent in November, the overall volume of local retail sales decreased 3.2 per cent.
“Meanwhile, total selected overseas declarations increased 9.3 per cent in November 2019 compared to November 2018. Overseas declarations includes imports received via courier, residents through the airport, households by sea and the post office.”
Chart extracted from the report:
Highlighted below are the November 2019 year-over-year changes for each of the seven local retail sectors:
- Motor Vehicle Stores’ sales volume decreased 18.6 per cent.
- Apparel Stores’ sales volume declined 16.2 per cent.
- Building Material Stores’ sales volume declined 10.7 per cent.
- Service Stations’ sales volume decreased 4.4 per cent.
- Liquor Stores’ sales volume decreased 3.4 per cent.
- All Other Store Types’ sales volume decreased 0.3 per cent.
- Food Stores’ sales volume increased 0.6 per cent.
The full November 2019 Retail Sales Index publication follows below [PDF here]:
no drilling down on these figures, Minister? sing us a song ….
Woah! Talk about a surprise…
I’m surprised the Minister hasn’t yet said the continued reduction in retail sales is a positive indication that the PLP policies are working and have reduced prices and therefore Bermudians are benefiting from lower prices which is why sales are lower.
Quick! Tell us it’s Amazon and killing business all over the world not the fact that gov has done NOTHING to help retail businesses be more competitive – e.g. import duty less than personal shipments if there is a bricks and mortar store! Nope. Gov is only interested in making as much money as they can because they have no clue and need every dime they can “steal” since they can’t control their own spending.
Help the stores stay open and employee people who pay all sorts of other taxes and have a pay cheque to spend and keep food on their table!!!
WE ARE SINKING
You are fired.
Oh come on. Blame it on a hurricane or something. Have you given up trying?
Booming,
25-11 looking better. Flip flop couldn’t even run a coffee shop. Oh never mind.
This is what you get for repeatedly electing idiots.
The PLP status quo – 20+ years of decline. Everyone of you who voted for this, you own it, it’s your fault. Do you understand yet?
And in tomorrow’s budget, how much will we hear about opening up immigration?
Absolutely nothing, because this government understands protectionism, and not economics.
Bermuda for Bermudians, even if it is a worthless Bermuda.
This is the normal path of the PLP no surprises here the main worry is who is gonna clean up their mess again
So says the 4th officer on the good ship Titanic.
Sorry PLP you have failed. Businesses hire people who pay taxes. If things don’t turn around this year mine will close. Sugar tax is an affront to the intelligence of our people, oops our people voted you in, maybe we aren’t intelligent. The good ship Bermuda is sinking and nobody is actually on the wheel.
Bermuda is a very large ship with a very small rudder. Passengers on board are mostly polite, aloof, well meaning heifers.