Retail Sales Increased 1.1% In February

Today [May 18] the Minister for the Cabinet Office Wayne Furbert released the February 2020 Retail Sales Index report.

The Minister explained, “After adjusting for the retail sales rate of inflation, measured at 0.7 percent in February, the overall volume of local retail sales increased 1.1 percent. Meanwhile, total selected overseas declarations increased 3.1 percent in February 2020 compared to February 2019. 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 February 2020 year-over-year changes for each of the seven local retail sectors:

• Food Stores’ sales volume increased 5.6 percent.

• Motor Vehicle Stores’ sales volume increased 4.9 percent.

• Service Stations’ sales volume increased 1.4 percent.

• All Other Store Types’ sales volume decreased 1.6 percent.

• Liquor Stores’ sales volume decreased 3.1 percent.

• Building Material Stores’ sales volume weakened 14.2 percent.

• Apparel Stores’ sales volume declined 16.2 percent.

The full February 2020 Retail Sales Index publication follows below [PDF here]:

#BermudaBusiness #RetailSalesIndex

Category: All, Business, News