Retail Sales Increase By 6.3% In December 2014
According to the latest Retail Sales Index, retail sales were 6.3% higher than the level reached in December 2013, and after adjusting for the annual retail sales rate of inflation — measured at 1% in December — the volume of retail sales increased by 5.2%.
The report, done by the Department of Statistics, said that all retail sectors registered increases with the exception of service stations which recorded a decrease of 6%. Motor vehicle retailers recorded the largest increase in sales, jumping 59.2%.
The full December 2014 Retail Sales Index is below [PDF here]:
But the Opposition says there is no growth, no nothing.
Sorry to tell you but we had no growth. People shopped in Bermuda because less residents could afford to take shopping trips overseas. Without going into to much detail I work in this industry, that’s why I know
The stats tell a different story. Overseas purchases Dec 2014 were the same as Dec 2013. So there was real growth.
i don’t know how in good conscience returning Bermudians can declare 7 million dollars in overseas spending, not to mention the value of the exempted $200 per person and the value of the undeclared purchases.
surely these purchases should be seen as bolstering another country’s economy. i suppose it doesn’t matter – when there’s more selection, sales and variables for our locals than our local companies cannot compete with.
than = that
That makes 2014 the best year since 2007. Amd 2015 will continue the improvement.
I’m afraid i think this is a blip caused by the spike in construction post hurricanes. We may have a 50 plus percent increase in motor sales – but what does that actually equate to in terms of real, hard, numbers?
Retail grew because it made so many cuts/sales – ie it did it the hard way.
The real hard numbers are in the report, if you read it.
Dec 2013 vehicle sales were $36.3m
Dec 2014 vehicle sales were $57.8m.