Retail Sales Index down by 4.4%

Bermuda’s recessionary slide continued in September as the Retail Sales Index was 4.4 per cent.

After adjusting for inflation, the volume of retail sales fell by 6.3 per cent.

To rub a bit more salt into the wound, there was one more shopping day — 25 — in September 2013 than there was in September 2012.

Overseas purchases declared by residents was also down 4.3 per cent. All retail sectors except motor vehicle retailers and apparel stores saw decreased sales in September 2013 over September 2012 according to the latest report put out by the Department of Statistics.

Motor vehicle sales increased 18 per cent as the volume of both car and motorcycle sold went up while revenue for apparel stores increased marginally by 0.1 per cent.

Building material stores fell 17.2 per cent as consumer demand for building supplies related to residential and contract projects decreased.

Service stations’ sales receipts declined by 7.0 per cent, but part of that can be attributed to the lower fuel sales per liter.

Receipts for food stores fell by 3.8 per cent while liquor stores saw a 12.1 per cent drop in receipts in September. Part of the food sales decline was due to people stocking up in September 2012 in preparation for a hurricane.