July 2016: Retail Sales Increase By 1.0%
Retail sales in July 2016 increased 1.0% above the $104.1 million recorded in July 2015 – and when adjusting for the annual retail sales rate of inflation, measured at 0.3% in July, the volume of retail sales increased 0.7% — according to the recently released Retail Sales Index.
“Five of the seven sectors experienced increases in sales revenue. Building materials stores registered the largest rise in sales receipts of 15.0%. Motor vehicle stores recorded the largest loss in sales of 6.9%,” the report said.
Chart extracted from the report:
“Returning residents declared overseas purchases valued at $4.4 million, which was 4.3% lower than July 2015. This contributed to a combined local and overseas spending of $109.6 million.
“Excluding Sundays, there were 24 shopping days during the month, one less than July 2015.”
The full 2016 July Retail Sales Index is below [PDF here]:
