Retail Sales Increased 1.5% In July 2020

October 20, 2020 | 2 Comments

Today the Minister for the Cabinet Office Wayne Furbert released the July 2020 Retail Sales Index publication from the Department of Statistics.

The Minister explained, “After adjusting for the retail sales rate of inflation, measured at negative 0.2 per cent in July, the overall volume of local retail sales increased 1.5 per cent. Meanwhile, total selected overseas declarations decreased 8.4 per cent in July 2020 compared to July 2019. Overseas declarations includes imports received via courier, residents through the airport, households by sea and the Bermuda Post Office.”

Chart extracted from the report:

7-July 2020 Retail Sales publication-1

The July 2020 Retail Sales Index publication is available online.

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

  • Building Material Stores’ sales volume increased 13.0 per cent.
  • All Other Store Types’ sales volume rose 6.3 per cent.
  • Food Stores’ sales volume increased 2.2 per cent.
  • Liquor Stores’ sales volume increased 11.1 per cent.
  • Motor Vehicle Stores’ sales volume declined marginally by 0.8 per cent.
  • Service Stations’ sales volume fell 8.7 per cent.
  • Apparel Stores’ sales volume declined 22.6 per cent.

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

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Comments (2)

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  1. Hurricane Preparedness says:

    This was due to Hurricane season – nothing to celebrate PLP!

  2. Ringmaster says:

    Also July was when Covid restrictions were being lifted, resulting in a pent up demand from earlier months. Without that, July would have shown another monthly drop, continuing the drops starting in 2018. Something must have happened in 2017 to cause a drop in demand and confidence.

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