Comments on: Retail Sales Rise 0.5% In June 2012

By: Methodology

Methodology — Tue, 21 Aug 2012 14:20:54 +0000

@Awake

You are correct about retailers not doing well. However, the reason for the increase is not because it is approaching Cup Match, because these are year-over-year statistics, so June 2012 was compared to sales in June 2011. The increase of 0.5% was marginal but after accounting for inflation the volume was still lower. June, July and December generally do have the highest indices each year but the the change is still measured as year-over-year.

But to support your claim of “retailers are not doing well at all” I have added the following information using data from page 3 of the press release:

June 2012 sales index(value)of 101.8 rose 0.5% over the 101.4 of June 2011 (which fell 2.6% below the June 2010 level of 104.0 – which was 2.4% lower than June 2009.

By: Awake

Awake — Tue, 21 Aug 2012 12:25:58 +0000

Reading “between the lines” is a MUST for those that clearly don’t understand statistics. Retailers are NOT doing well AT ALL. People spend when Bermuda’s about to experience the biggest party of all…Cup Match. Notice the report says liquor and food stores saw an increase. Go figure! The same thing will happen before Christmas but then come January-March…DEAD! WAKE UP PEOPLE!!! It continues to amaze me how people all of a sudden, have money to spend on crap but when it comes to necessities for their families, they’re broke, and want their GOVERNMENT to bail them out. Government needs to take a real good look at those on Financial Assistance and watch what they do with the money they receive. Asking Government to pay your rent, and then you go out and buy unnecessary items (new hairdos, mani’s-pedi’s, cell phones, overseas trips, etc.) is pathetic!!!!!!!! People getting money from their pension funds to PARTY is pathetic! Wow…life in Bermuda seems to be getting more ridiculous by the minute!!!!!!!!!

By: Coli

Coli — Tue, 21 Aug 2012 00:15:45 +0000

Newport was in island in June and they sure did buy a lot of booze and groceries to take back on their boats. Good for them!

By: Paradise Reclaimed

Paradise Reclaimed — Mon, 20 Aug 2012 23:06:30 +0000

And July and August have been very sloooooow. Retailer

By: Future

Future — Mon, 20 Aug 2012 20:40:47 +0000

The title of the published report can be misleading for sure.

From the release:

“After adjusting for the annual retail sales rate of inflation, measured at 2.9 per cent in June 2012, the volume of retail sales decreased by 1.1 per cent.”

So yes, dollars xchanging hands is up 0.5% but account for inflation it is actually down 1.1%.

By: argosy

argosy — Mon, 20 Aug 2012 20:16:22 +0000

That’s what’s said – by 1.1%!!!???

By: Curious

Curious — Mon, 20 Aug 2012 18:57:33 +0000

If inflation is anything greater than 0.5% then surely retail sales have technically gone down?