Retail Sales Volume Increased By 1.3% In July

October 29, 2019

Today [Oct 29] the Minister for the Cabinet Office Wayne Furbert released the July 2019 Retail Sales Index publication from the Department of Statistics.

Minister Furbert explained, “We saw some encouraging signs in the July retail sales report. After adjusting for the retail sales rate of inflation, measured at 1.2 percent in July, the overall volume of local retail sales increased 1.3 percent.

“E-commerce and online shopping continue to be broadening global trend. And other areas of note in the July report include overseas declarations going up – which is a reflection of residents’ increase of overseas or online shopping.

“Our numbers indicate that the total overseas declarations rose 25.9 percent in July 2019 compared to July 2018. Overseas declarations includes imports received via courier, residents through the airport, households by sea and the post office.”

Chart extracted from the report:

7-July 2019 Retail Sales publication

Other increases in July are as indicated below. Note the key highlights of the July 2019 year-over-year changes for each of the seven local retail sectors:

  • All Other Store Types’ sales volume increased 4.8 %.
  • Motor Vehicle Stores’ sales volume increased 4.2 %.
  • Service Stations’ sales volume increased 4.1 %.
  • Food Stores’ sales volume increased 2.8 %.
  • Liquor Stores’ sales volume remained the same.
  • Apparel Stores’ sales volume declined 8.6 %.
  • Building Material Stores’ sales volume declined 25.6 %.

The full July 2019 Retail Sales Index publication follows below [PDF here]:

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Comments (5)

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  1. TPSN says:

    That drop in building materials sales looks ominous…

  2. aceboy says:

    It’s almost November

  3. Ringmaster says:

    The PLP need to get on the same page. Last night Premier Burt is complaining about pension money being invested overseas and needs to be invested in Bermuda. Today Minister Furbert is praising the increase in overseas spending by residents, which of course is harmful to Bermuda. And again Premier Burt says the America’s Cup was a one shot event and no benefit, yet the Minister of Tourism is praising its benefits to Bermuda.

  4. Onion Fist says:

    No surprise there its the middle of summer nearing cupmatch. Talk to us after your golf game, November through April Wayne Furbert!!!

  5. Question says:

    It was -4.5% in July last year. So July is only “up” 1.3% because it’s compared to their own dismal performance last year. It’s still an appalling figure.