Retail Sales Rise 0.2%, First Since 2008
According to statistics released this morning [Apr.12], retail sales edged up 0.2% in February 2012, marking the first month of positive sales since December 2008.
Consumers spent $70.3 million on retail goods representing a marginal increase of $0.1 million when compared to February 2011. Among the retail sectors, sales of building materials were the strongest, increasing 9.9%. In contrast, motor vehicle dealers reported the largest decline in sales of 17.5%.
Residents returning to the Island declared overseas purchases of goods valued at $3.3 million during February 2012, which is 5.7% lower than the $3.5 million declared in February 2011. Combined local and overseas spending totalled $73.6 million.
The full report is below, click ‘Fullscreen’ for greater clarity:
Hmmmm one extra day in Feb 2012, back that day out and it is a 4% down on last year, back out inflation and it is 7% down on last year!