Retail sales in January 2019 declined by 2.9 percent, after adjusting for the rate of inflation – measured at 1.8 percent.
According to the latest figures released by the Department of Statistics, declines were recorded in all of the island’s retail sectors, “with apparel stores recording the largest volume decrease of 22.8 percent, followed by motor vehicle stores which recorded a 11.8% decline in sales volume”.
“In value terms, retail sales decreased 1.3 percent to an estimated $85.8 million. Excluding Sundays, there were 26 full shopping days, the same as in January 2018.”
Minister for the Cabinet Office Walton Brown said: “Declarations by returning residents and declarations via the post office both declined $0.1 million to $4.3 million and $0.4 million, respectively. Imports via courier remained unchanged at $10.1 million while imports by household via sea increased by $0.3 million to $0.8 million.”
Year-over-year changes for each of the seven retail sectors in January 2019:
- Apparel Stores’ sales volume decreased 22.8 percent
- Motor Vehicle Stores’ sales volume fell 11.8 percent
- Service Stations’ sales volume weakened 5.4 percent
- All Other Store Types’ sales volume declined 2.5 percent
- Liquor Stores’ sales volume declined 0.6 percent
- Building Material Stores’ sales volume declined 0.5 percent
- Food Stores’ sales volume declined 0.1 percent