February 2013 Retail Sales Decrease By 1.8%
Retail sales fell 1.8% [or by $1.3 million] during February 2013, and after adjusting for the annual retail sales rate of inflation [measured at 2.5% in February 2013] the volume of retail sales fell by 5.6%.
Sales activity declined in all retail sectors with the exception of food stores which recorded a 3.9% increase in sales, while retailers of building materials reported the largest decline in sales of 19.2% for the month.
Residents returning to the Island declared overseas purchases valued at $3.4 million during February 2013, which was 3.0% more than the $3.3 million declared in February 2012. Combined local and overseas spending totalled $73.6 million.
The full February 2013 Retail Sales Index is below [PDF here]
Come on Bermy, buy local if you want local to continue to be available and nearly competitive. The big Belco and MarketPlace outfits can take it, buy from the small guys.