Sales: Building Materials Up, Vehicles Down
Retail sales in September 2011 decreased by 0.1 percent below the $82.7 million recorded in September 2010 with vehicle sales experiencing the largest decline, according to data released this morning [Nov.25] by the Department of Statistics.
Retailers of building materials recorded the strongest growth with an increase in sales of 14.4 percent, which the report attributes to demand for building supplies for construction projects such as the new hospital.
The motor vehicle sector registered the largest decline in sales of 14.1 percent, which was attributed to 15 fewer cars sold. The report also said that although more units of motorcycles were sold during the period, the heavily discounted prices of these units prevented receipts from surpassing last year.
Residents returning to the Island declared overseas purchases valued at $5.7 million during September 2011, 5.6 percent higher than the $5.4 million declared in September 2010. Combined local and overseas spending totalled $88.3 million.
After adjusting for the annual retail sales rate of inflation, measured at 3.2 percent in September 2011, the volume of retail sales fell by 3.2 percent.
The full 4-page report is below, click ‘Fullscreen’ for greater clarity:
