Retail Sales Increase 4.9% In November 2016

Retail sales in November 2016 increased 4.9% above the $91.9 million recorded in November 2015 — and when adjusting for the annual retail sales rate of inflation, measured at 0.9% in November — the volume of retail sales increased 4.0%, according to the recently released Retail Sales Index.

“All sectors experienced increases in sales revenue with the exception of apparel stores which declined marginally by 0.7%. In contrast, building material stores registered the largest rise in sales receipts of 20.9%, the report said.

Chart extracted from the report:

“Returning residents declared overseas purchases valued at $6.2 million, a decline of 4.8% when compared to November 2015. This contributed to a combined local and overseas spending of $102.6 million.

“Excluding Sundays, there were 25 shopping days during the month, one more than in November 2015.”

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

#BermudaBusiness #RetailSalesIndex

Category: All, Business