Retail Sales Increased 0.6% In February 2024
The overall volume of the retail sales index increased by 0.6% compared to February 2023, according to the February 2024 Retail Sales Index.
A Government spokesperson said, “Today, the Ministry of Economy and Labour released the February 2024 Retail Sales Index publication.
“February’s volume of retail sales index increased 0.6 per cent compared to last year. In value terms, retail sales remained unchanged at an estimated $92.2 million.
Chart extracted from the report:
“Three of the seven sectors recorded year-over-year volume index increases in February 2024:
- Service Stations’ sales volume increased 5.0 per cent.
- The sales volume for Food Stores rose 2.8 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 2.6 per cent increase in sales volume.
“The following sectors had a decrease in sales volume compared to the previous year:
- The sales volume for Building Material Stores decreased by 0.1 per cent.
- The Liquor Stores’ sales volume fell 4.8 per cent.
- The sales volume at Apparel Stores decreased 5.1 per cent.
- Motor Vehicle Stores’ sales volume decreased 17.5 per cent.
“Selected overseas declarations increased by 14.3 per cent compared to February 2023.
“The public can review the February 2024 Retail Sales Index report at https://www.gov.bm/retail-sales-index-rsi.”
The full February 2024 Retail Sales Index publication follows below [PDF here]:
Today is August 15 and the US has released retail sales figures for July. 15 days to prepare and release. Bermuda has also released retail sales figures, but for February. 5 months to prepare and release. Why even bother. No wonder the Bermuda Government is so dysfunctional if they make any use of this and similar such data.
“and similar such data”
Do you mean “antiquated” data?
Antiquated, dubious, questionable; inadequate; incomplete; false. Get out the Roget’s Thesaurus and add several dozen more!
Feb 2024 had one extra shopping day (leap year) than the year it is being compared to, so if compared like with like retail sales would have fallen again. This stats dept are shocking. Please present an unbiased truth and not a politically motivated propaganda piece govt stats office.
I, for one, believe that sales volume increased in February 2024. After all, many people can no longer afford to travel, so they have to buy everything in Bermuda.