Retail sales decline by $30 million for 2011

WEDNESDAY, FEBRUARY 15: Local retail sales were $30 million less in 2011 than in 2010.

The Department of Statistics said the sales volume in December was down 3.9 per cent, marking the 44th straight month of declines.

Residents returning to Bermuda declared $6.1 million of goods, which was 23.8 per cent less than December 2010.

The silver lining in the retail sales figures was that five of the seven sectors saw increases, with motor vehicle sales being the drag on sales volume with a decline of 34 per cent.

There were 41 fewer cars and 18 fewer motorcycles sold in December 2011 than in December 2010.

Building material sales were up 26.7 per cent, registering the first rise in December sales since 2006.

Both food and liquor stores benefitted from two extra Saturday shopping days in December 2011 compared to 2010. Food store receipts were up 2.7 per cent while liquor sales were up 4.7 per cent.

Service station sales increased 1.6 per cent, but that can largely be attributed to an 8.2 per cent increase in the price of gas rather than more gas being purchased.

Overall retail sales for 2011 were $1.01 billion, which was 3 per cent less than 2010.