Retail Sales Increase 1.4% In February 2014
Total retail sales in February 2014 increased 1.4% with consumers spending an estimated $71.2 million on retail goods during the month. Motor vehicle retailers registered the largest increase in sales of 42.3% and in contrast, retailers of apparel stores reported the largest decrease in sales of 5%.
Residents returning to the island declared overseas purchases valued at $3 million during February 2014. This contributed to a combined local and overseas spending total of $74.2 million.
After adjusting for the annual retail sales rate of inflation, measured at 1.0% in February, the volume of retail sales increased by 0.3%. There were 24 shopping days during the month, the same as in February 2013.
The full February 2014 Retail Sales Index is below [PDF here].
