Retail sales down 5.6 per cent

The volume of retail sales fell by 5.6 per cent in February, following a 0.9 per cent decline in January. It marked the seventh straight month of declines.

The Department of Statistics reported that the value of retail sales declined by 1.8 per cent, but after adjusting for inflation the volume was down by 5.6 per cent.

There were 24 shopping days in February 2013 compared to 25 in 2012, which would explain part of the decline.

All sectors except Food experienced a decrease. Retailers of building materials reported the largest decline at 19.2 per cent.

Residents declared $3.4 million in overseas purchases compare to $3.3 million in 2012.

The Motor Vehicles sector was down 15.6 per cent decrease in sales revenue as 13 fewer cars and five fewer motorcycles were sold.

The Service Stations sector was down 4.1 per cent even though the price of gasoline rose 6.4 per cent.

The Apparel Stores sector was down 1.7 per cent with retailers saying there were less discount sales events.

While food sales rose 3.9 per cent, liquor sales decreased 2.7 per cent.