Retail Sales Decline 4.4% In September 2013
Total retail sales in September 2013 decreased 4.4%, and after adjusting for the annual retail sales rate of inflation [measured at 2% in September] the volume of retail sales fell by 6.3%.
All retail sectors registered declines in retail sales with the exception of motor vehicle retailers and apparel stores. Retailers of building materials recorded the largest decline in sales of 17.2% In contrast, motor vehicle sales increased 18%.
Residents returning to the Island declared overseas purchases valued at $4.9 million during September 2013. This contributed to a combined local and overseas spending total of $83.7 million.
The full Retail Sales Index, courtesy of the Dept. of Statistics, is below [PDF here]:
I’m guessing those continued government cutbacks are coming home to roost!
There will be more or less spending as the cutbacks continue from this OBAUbp govt…..the impact will be felt by their business friends and family….NO JOBS NO MONEY> NO SPENDING>>>>
Also there is poor customer services in most of the retail sector. Folks are not nice nor encouraging when you go into those stores in Hamilton…
Read the report there are some encouraging signs.
I’m curious, Why is 2006 used as the base period for measuring the shift in RSI sales. Why isn’t this rebased YOY.
Under the UBP we had a growing economy and under the PLP we have a declining economy.
Bermuda could not afford a PLP Government as the economy continues to go down for the (5)fifth year,so get used to it.
Under the PLP we had a growing economy until 2008 or did you just forget about that?
Bluebird,
Your analysis is a bit too simple. Bermuda experienced some good economic growth under the UBP and experienced its most significant growth period under the PLP pre 2008 before the econmic downturn. So I’m not really sure what case you are trying to make. Do you think despite almost every western/european nations failure to continue growing after 2008, Bermuda under the UBP would somehow by some miracle managed to do so???