Retail Sales Decreased 3.1% In January

April 3, 2020 | 2 Comments

Today the Minister for the Cabinet Office Wayne Furbert released the January 2020 Retail Sales Index.

The Minister explained, “After adjusting for the retail sales rate of inflation, measured at 0.8 per cent in January, the overall volume of local retail sales decreased 3.1 per cent. Meanwhile, total selected overseas declarations increased 14.1 per cent in January 2020 compared to January 2019. Overseas declarations includes imports received via courier, residents through the airport, households by sea, and the post office.”

Chart extracted from the report:

1-January 2020 Retail Sales publication

Highlighted below are the January 2020 year-over-year changes for each of the seven local retail sectors:

  • Building Material Stores’ sales volume declined 14.9 per cent.
  • Apparel Stores’ sales volume declined 12.9 per cent.
  • Motor Vehicle Stores’ sales volume decreased 4.6 per cent.
  • Food Stores’ sales volume decreased 2.0 per cent.
  • All Other Store Types’ sales volume decreased 2.5 per cent.
  • Service Stations’ sales volume decreased 2.1 per cent.
  • Liquor Stores’ sales volume increased 0.3 per cent.

The full January 2020 Retail Sales Index publication follows below [PDF here]:

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Category: All, Business, News

Comments (2)

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  1. Jack Archer says:

    He’ll be able to say they’re up in March!

  2. Joe Bloggs says:

    “The Minister explained, “After adjusting for the retail sales rate of inflation, measured at 0.8 per cent in January, the overall volume of local retail sales decreased 3.1 per cent. Meanwhile, total selected overseas declarations increased 14.1 per cent in January 2020 compared to January 2019. Overseas declarations includes imports received via courier, residents through the airport, households by sea, and the post office.”

    Thank you Minister Furbert, but where is the positive “spin”? Why are you not telling me how good this news is for the Bermuda economy?

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