Retail Sales Decreased 0.5% In June 2023
After adjusting for the retail sales rate of inflation, measured at 5.0% in June, the overall volume of retail sales index decreased 0.5% when compared to June 2022, according to the recently released Retail Sales Index.
A Government spokesperson said, “June’s retail sales volume decreased 0.5 per cent compared to last year. In value terms, retail sales increased to an estimated $105.9 million, representing a 4.5 per cent rise in sales value.
Chart extracted from the report:
“Four of the seven sectors recorded year-over-year volume decreases in June 2023:
- The sales volume for Food Stores fell 4.4 per cent.
- The Liquor Stores’ sales volume fell 6.2 per cent.
- Service Stations’ sales volume decreased 0.4 per cent.
- The sales volume at Apparel Stores dropped 4.4 per cent.
“The following sectors had increases in sales volume compared to the previous year:
- Motor Vehicle Stores’ sales volume grew 3.3 per cent.
- The sales volume for Building Material Stores increased 4.4 per cent.
- In the All Other Store Types sector [comprising stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods], there was a 1.4 per cent increase in sales volume.
“Selected overseas declarations decreased 8.3 per cent compared to June 2022.”
The full June 2023 Retail Sales Index publication follows below [PDF here]:
