Retail Sales Increase 5.3% In March 2017

Retail sales in March 2017 increased 5.3% above the $91.6 million recorded in March 2016 and when adjusting for the annual retail sales rate of inflation – measured at 1.9% in March – the volume of retail sales increased 3.4%, according to the recently released Retail Sales Index.

“All sectors experienced increases in sales revenue with the exception of apparel stores, which declined 0.9%. Retailers of motor vehicles registered the largest gain in sales of 23.1%,” the report said.

Chart extracted from the report:

“Returning residents declared overseas purchases valued at $3.7 million, which was 8.8% higher than March 2016. This contributed to a combined local and overseas spending of $100.2 million.

“Excluding Sundays, there were 27 shopping days during the month, one more than March 2016.”

The full 2017 March Retail Sales Index is below [PDF here]:

#BermudaBusiness #RetailSalesIndex

Category: All, Business