Retail Sales Decreased 4.3% In June 2022
After adjusting for the retail sales rate of inflation – measured at 4.9% in June – the overall volume of retail sales decreased 4.3% compared to June 2021, according to the recently released Retail Sales Index.
A Government spokesperson said, “Today, the Ministry of Economy and Labour released the June 2022 Retail Sales Index. June’s retail sales volume decreased 4.3% compared to last year. In value terms, retail sales increased to an estimated $106.0 million or 0.4%.
Chart extracted from the report:
“Compared to the pre-pandemic period of June 2019, volume sales were lower by 1.3%, with liquor stores the only sector experiencing year-over-year growth in June 2022.
“Sales volume at Liquor Stores increased by 0.8%, while Food Stores’ sales volume decreased by 3.2%, year-over-year. Compared to 2019 pre-pandemic sales volume, Liquor Stores registered a 1.8% increase while sales for Food Stores were 5.7% lower.
“All other sectors experienced decreases in sales volume compared to the previous year.
“Motor Vehicle Stores’ sales volume declined 40.7% due to a decreased number of vehicles sold compared to the previous year. This sales level was 15.3% below the sales volume in June 2019 before the pandemic.
“Building Material Stores’ sales volume fell 4.7%. The sales volume for this sector was 22.8% above the 2019 sales level.
“In the All Other Store Types sector [comprising stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods], there was a 2.6% decrease due to fewer sales of household goods. Sales for this sector registered 1.9% below the pre-pandemic sales volume in June of 2019.
“Service Stations’ sales volume decreased 0.9% from last year and were 11.1% below the pre-pandemic sales of 2019.
“Sales volume at Apparel Stores decreased 0.3% due to the relaxation of travel restrictions, resulting in more travelers shopping overseas. This sales volume was 20.7% below the pre-pandemic sales of 2019.
“Overseas declarations increased 7.8% compared to June 2021 and were 64.5% over the pre-pandemic period.”
The full June 2022 Retail Sales Index publication follows below [PDF here]:
“A Government spokesperson said …”
Why isn’t former UBP leader Wayne Furbert giving us this news?
Just doing what he is told. all these mp ministers whatever they are come with strings attached…. little muppets
Ego and money before country.
Everyone else is opening up and booming. But we have a shrinking economy. Thanks Burt.
flip flop furbert fudging figures
Egomeir got all his muppets quiet
Amazing what people put in front of country.
Government needs to be worried by these stats as it would appear that the shrinking population is probably causing these reductions. Not easy to reverse, but what could be is for Dim Wilson to remove the Covid restrictions and let more visitors in to spend money. The ignorance is alarming. Maybe this lack of revenue is why the $15m vote catching give away has been delayed?