August 2016: Retail Sales Increase By 2.9%
Retail sales in August 2016 increased 2.9% above the $91.4 million recorded in August 2015 – and when adjusting for the annual retail sales rate of inflation, measured at 0.7% in August, the volume of retail sales increased 2.3% — 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 17.5%. Motor vehicle stores recorded the largest loss in sales of 2.2%, the report said.
Chart extracted from the report:
“Returning residents declared overseas purchases valued at $6.4 million, which was 4.5% lower than August 2015. This contributed to a combined local and overseas spending of $100.5 million.
“Excluding Sundays, there were 27 shopping days during the month, one more than August 2015.”
The full 2016 August Retail Sales Index is below [PDF here]:
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