Retail Sales Decreased 5.4% In August 2024
After adjusting for the retail sales rate of inflation – measured at 2.7% in August – the overall volume of retail sales index decreased 5.4% when compared to August 2023, according to the recently released Retail Sales Index.
A Government spokesperson said, “Today, the Ministry of Economy and Labour released the August 2024 Retail Sales Index publication.
“August’s volume of retail sales index decreased 5.4 per cent compared to last year. In value terms, retail sales decreased to an estimated $97.7 million.
Chart extracted from the report:
“One of the seven sectors recorded a year-over-year volume index increase in August 2024:
- The sales volume for Building Material Stores increased 5.4 per cent.
“The following sectors had a decrease in sales volume compared to the previous year:
- The Food Stores’ sales volume decreased 3.7 per cent.
- The Liquor Stores’ sales volume fell 3.7 per cent.
- The sales volume for Motor Vehicle Stores decreased 3.1 per cent.
- The Service Station’s sales volume decreased by 1.5 per cent.
- The sales volume at Apparel Stores decreased 14.3 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 9.1 percent.
“Selected overseas declarations increased 3.5 per cent compared to August 2023.”
The full August 2024 Retail Sales Index publication follows below [PDF here]:
