Retail Sales Index Decreased By 15% In May 2020

News Release: HAMILTON, Bermuda – The Minister for the Cabinet Office, Wayne Furbert today released the May 2020 Retail Sales Index publication from the Department of Statistics.

The Minister explained: “After adjusting for the retail sales rate of inflation, measured at 1.3 percent in May, the overall volume of local retail sales decreased 15.0 percent.

“Retail sales activity was affected by Coronavirus (COVID-19) restrictions such as curfew hours and primarily curb side pickup for some retail establishments with the exception of permitted businesses such as food stores, pharmacies and service stations.

“Meanwhile, total selected overseas declarations decreased 28.8 percent in May 2020 compared to May 2019. Overseas declarations includes imports received via courier, residents through the airport, households by sea and the Bermuda Post Office.”

Highlighted below are the May 2020 year-over-year changes for each of the seven local retail sectors:

• Food Stores’ sales volume increased 4.8 percent

• Liquor Stores’ sales volume increased 19.6 percent

• Building Material Stores’ sales volume contracted 18.7 percent

• All Other Store Types’ sales volume declined 26.2 percent

• Service Stations’ sales volume weakened 29.2 percent

• Motor Vehicle Stores’ sales volume fell 30.7 percent

• Apparel Stores’ sales volume decreased 76.5 percent

The May 2020 Retail Sales Index publication is available online at https://www.gov.bm/retail-sales-index-rsi.