Retail Sales Increase 4.7% In August 2017
Retail sales in August 2017 increased 4.7% above the $94.1 million recorded in August 2016 and when adjusting for the annual retail sales rate of inflation – measured at 2.2% in August – the volume of retail sales increased 2.5%, according to the recently released Retail Sales Index.
“Building materials and hardware stores recorded the largest gain in sales of 29.0%. In contrast, the all other stores sector registered the largest decline in sales of 3.5%,” the report said.
Chart extracted from the report:
“Returning residents declared overseas purchases valued at $6.6 million, which was 3.1% higher than August 2016. This contributed to a combined local and overseas spending of $105.1 million.
“Excluding Sundays, there were 25 shopping days during the month, two less than August 2016.”
The full 2017 August Retail Sales Index is below [PDF here]:
Thanks OBA.
I hate that AC! All it brought to Bermuda was money and happy people!
…..but this does not equate to a larger basket of goods though. not always good news for the consumer
The trend for the next 6 months will be interesting.