Retail Sales Decreased 6.6% In October 2021
After adjusting for the retail sales rate of inflation, measured at 3.4% in October, the overall volume of retail sales decreased 6.6% when compared to October 2020, according to the recently released Retail Sales Index.
A Government spokesperson said, “Today, the Cabinet Office released the October 2021 Retail Sales Index [RSI]. October’s retail sales fell 6.6% compared to last year. In value terms retail sales fell 3.3%, which represents an estimated $96.2 million compared to last year [October 2020].
“October’s retail sales activity saw increases in Building Material sales. This grew by 5.9% due to a higher demand for home improvement products.
“Also during October, overseas declarations increased 13.6% compared October 2020. The rise in overseas declarations was influenced mostly by higher imports by households via sea related to clothing, footwear and motorboats. In correlation, sales of marine and boating supplies grew by 1.8% during October 2021.
Chart extracted from the report:
“There were some declines in various sectors. Liquor Store sales fell 5.0%, while Food Store sales decreased 2.9%. This was due mainly to fewer shopping days during the month.
“In the All Other Store Types sector [comprising of stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods], there was a 9.9% decrease due to lower sales of furniture, appliances and electronics, as well as sales at pharmacies.
“Service Station sales declined by 12.6%; motor vehicle stores’ sales fell by 16.5%; and Apparel Stores’ sales declined by 17.4%.
The full October 2021 Retail Sales Index publication follows below [PDF here]:
“A Government spokesperson said …”
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