Retail Sales Decreased 2.3% In June 2024

After adjusting for the retail sales rate of inflation – measured at 3.2% in June – the overall volume of retail sales index decreased 2.3% when compared to June 2023, according to the recently released Retail Sales Index.

A Government spokesperson said, “Today, the Ministry of Economy and Labour released the June 2024 Retail Sales Index publication. June’s volume of retail sales index decreased 2.3 per cent compared to last year. In value terms, retail sales increased to an estimated $111.0 million.

Chart extracted from the report:

“Three of the seven sectors recorded year-over-year volume index increases in June 2024:

• The sales volume for Food Stores increased 1.1 per cent.
• Motor Vehicle Stores’ sales volume increased 6.9 percent.
• Service Stations’ sales volume increased 1.2 per cent.

“The following sectors had a decrease in sales volume compared to the previous year:

• The Liquor Stores’ sales volume fell 1.6 per cent.
• The sales volume for Building Material Stores decreased 8.3 per cent.
• The sales volume at Apparel Stores decreased 1.6 per cent.
• The sales volume in the All Other Store Types sector [comprising stores selling household items, furniture, appliances, electronics, pharmaceuticals, and tourist-related goods] decreased by 8.6 percent.

“Selected overseas declarations increased 47.5 per cent compared to June 2023.

“The public can review the June 2024 Retail Sales Index report at https://www.gov.bm/retail-sales-index-rsi.”

The full June 2024 Retail Sales Index publication follows below [PDF here]:

#BermudaBusiness #RetailSalesIndex

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