Retail Sales Decrease 2.3% In March 2014
Retail sales in March 2014 fell 2.3% or $1.9 million below the $84.5 million recorded in March 2013, and after adjusting for inflation, the volume of retail sales decreased by 4.1%.
Consumer demand weakened in all retail sectors, with sales of building materials registering the largest decline of 19.2%. In contrast, motor vehicle stores registered a 33.3% increase in sales.
Residents returning to the island declared overseas purchases valued at $3.5 million during March 2014. This contributed to a combined local and overseas spending total of $86.1 million.
After adjusting for the annual retail sales rate of inflation, measured at 1.9% in March, the volume of retail sales decreased by 4.1%. There were 26 shopping days during the month, one more than in March 2013.
The full March 2014 Retail Sales Index is below [PDF here]:
Damn Expats.
Stealing and giving things away without recording the point of sale.
Send all to Paget Island.
Yes, damn ex-pats.
Paying rent to Bermudian landlords, shopping in Bermudian stores, eating at Bermudian restaurants, renting Bermudian boats, inviting their foreigner friends and family to visit the island to spend their money on Bermudian hospitality/retail…we should all leave.
Too bad that if I move to London, my job goes with me. I think that’s what you call a lose-lose.
It’s a very sad statistic because it means we’re not recovering as fast as everyone was hoping. Expat, all foreigners actually, are apparently the cause of all our problems. “We” want more jobs and we don’t want any foreigners so please just send us your money. Sad, truly sad
As a Bermudian it saddens me to see ignorant online anonymous comments such as the one posted on “May 8, 2014 at 1:03 pm”.
No Wait!!! The OBA said that they were going up, that the economy is recovering, that their nonexistent plan is working.
Only people getting money seem to be OBA politicians – everyone else is suffering.
So, OBA says that retail sales are going up. Statistics say they are down.
Who are we supposed to believe?
Did they say March retail sales were up? When?
They said that February sales were up, which they were. So you can believe that.
I just hope the same folks playing the blame game aren’t the same ones hopping over to NYC for all of their shopping needs. Christ, I’ve seen folks coming through arrivals with tricking stock piles of McDonald’s!
A few people on Front Street and the Ewart Brown enclave that makes money in DocYard.
Don’t hear them bitching and moaning.
Follow the forespring.
Wow- let’s all just focus on taking care of the tourist visiting here- making sure they have the true bermudaful experience, and lax some rules in letting more startups to set up shop here on the basis that bermudians gain employment from doing so! And people- quit living beyond your means!!! We’re not in the clear yet of this financial struggle!