Retail Sales Decrease In October 2016

December 28, 2016

Retail sales in October 2016 decreased 3.8% below the $95.6 million recorded in October 2015 — and when adjusting for the annual retail sales rate of inflation, measured at 1.2% in October — the volume of retail sales decreased 4.9%, according to the recently released Retail Sales Index.

“Five of the seven sectors experienced decreases in sales revenue. Apparel stores registered the largest drop in sales receipts of 22.8%. Liquor stores recorded a gain in sales of 5.2%, the report said.

Chart extracted from the report:

October 2016 Retail Sales publication

“Returning residents declared overseas purchases valued at $4.2 million, unchanged from October 2015. This contributed to a combined local and overseas spending of $96.2 million.

“Excluding Sundays, there were 26 shopping days during the month, the same as in October 2015.”

The full 2016 October Retail Sales Index is below [PDF here]:

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Category: All, Business