Retail Sales Volume Decreased By 6% In June
Today [Oct 8] the Minister for the Cabinet Office Wayne Furbert released the June 2019 Retail Sales Index publication from the Department of Statistics.
The Minister explained, “After adjusting for the retail sales rate of inflation, measured at 0.7 per cent in June, the overall volume of local retail sales decreased 6.0 per cent.
“Imports via courier decreased $0.3 million to $11.1 million. Imports by households via sea decreased $0.7 million to $0.8 million. In contrast, declarations by returning residents via the airport rose $0.3 million to $4.5 million while imports via the post office remained unchanged at $0.5 million.”
Chart extracted from the report:
Highlighted below are the June 2019 year-over-year changes for each of the seven local retail sectors:
- Service stations’ sales volume increased 0.5 per cent.
- Apparel stores’ sales volume declined 16.8 per cent.
- Liquor stores’ sales volume decreased 13.5 per cent.
- Building material stores’ sales volume declined 12.3 per cent.
- Motor vehicle stores’ sales volume declined 7.8 per cent.
- All other store types’ sales volume decreased 7.8 per cent.
- Food stores’ sales volume decreased 2.8 per cent.
The full June 2019 Retail Sales Index publication follows below [PDF here]:
Oh cha, imagine that..
Not to worry OBA will fix your mess ups AGAIN.
Surely this has nothing to do with the plp.
A pretty telling bar chart. Sales increased from 2014 to 2017 (the America’s Cup year). Then in 2017 there was the election and the PLP returned and now Bermuda has seen 2 years of steady decline and worse to sales less than in 2014. No world recession to blame so clearly totally Bermuda produced. Facts are facts.
The drones will be along shortly to claim that retail sales are down worldwide because of online shopping and this is nothing to do with government policies.
smh
Wow. I can only find retail sales volume numbers back to 2006 when the retails sales volume index was 106.8.
This is the worst retail sales number in at least 13 years but probably a lot longer than that.
I’m sure Robert the green flag man will tell us the local economy is booming though.
Those new taxes and extra government charges and increased healthcare costs are really making things go nicely aren’t they.
Great job Burt. You’re really handling things to the best of your ability aren’t you. A few more years at compounded 6& decreases and we will soon be at 50% of where we were when you took over. Or, if Burch gets hold of it, a “300% decrease”. Quite an achievement.
thanks to #burtonomics
“The Minister explained, “After adjusting for the retail sales rate of inflation, measured at 0.7 per cent in June, the overall volume of local retail sales decreased 6.0 per cent.”
Apparently the Minister made no attempt to explain why the overall volume of local retail sales decreased by 6.0 per cent. That is worrying.
That’s a significant drop.
Not good at all.
Well done PLP, you have out done yourselves once again.
Go Plp go. Sigh
25-11!