Retail Sales Decreased 0.2% In March 2024
The overall volume of retail sales index decreased 0.2% compared to March 2023, according to the March 2024 Retail Sales Index.
A Government spokesperson said, “Today, the Ministry of Economy and Labour released the March 2024 Retail Sales Index publication [attached]. March’s volume of retail sales index decreased 0.2 per cent compared to last year. In value terms, retail sales increased to an estimated $96.6 million.
Chart extracted from the report:
“Four of the seven sectors recorded year-over-year volume index decreases in March 2024:
- The sales volume for Food Stores dropped 1.1 per cent.
- The Liquor Stores’ sales volume fell 0.7 per cent.
- The sales volume for Building Material Stores decreased 5.0 per cent.
- The sales volume at Apparel Stores decreased 0.4 per cent.
“The following sectors had an increase in sales volume compared to the previous year:
- Motor Vehicle Stores’ sales volume increased 1.7 per cent.
- Service Stations’ sales volume increased 1.0 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 0.6 per cent increase in sales volume.
“Selected overseas declarations decreased 14.5 per cent compared to March 2023.”
The full March 2024 Retail Sales Index publication follows below [PDF here]:
Down, down, deeper and down. A very sad view of the decline of Bermuda under the PLP.
But why, Minister of Economy, are retails sales declining when our economy is so strong that our inflation rate is lower than that of the U.S., the U.K. and Canada?
Wow, the government admitted retail sales are down by 0.2 % I guess they ran out of ways to hide the obvious truth. I wonder how bad the real number was.
They are very lucky that our women don’t get on here that will open the door as the will be absolute hell to play and pay !
Down even compared to their own dismal performance in previous years. Bermuda in economic decline.
Have faith recession is working ever so slowly but working never the less.
We stop buying to get the price and profits down.
America put a hit on it people for 4% Bermuda does the same thing at 10 %
The cost of a concrete block costs 100 % more or doubled the price.
So much ! for low cost housing and for low cost housing.
To day they are doing a fantastic job of reovating the older houses .
i will tell you where the avalue is ! it is in the land cause they fight wars over it !
Bermuda is paradise how could you ask for more ?
I just did !
” A Ship that sits at a dock doing nothing is not going any where.”