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.