Today the Minister for the Cabinet Office the Hon. Wayne Furbert, JP, MP, released the January 2020 Retail Sales Index.

The Minister explained, “After adjusting for the retail sales rate of inflation, measured at 0.8 per cent in January, the overall volume of local retail sales decreased 3.1 per cent. Meanwhile, total selected overseas declarations increased 14.1 per cent in January 2020 compared to January 2019. Overseas declarations includes imports received via courier, residents through the airport, households by sea, and the post office.”

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

• Building Material Stores’ sales volume declined 14.9 per cent.
• Apparel Stores’ sales volume declined 12.9 per cent.
• Motor Vehicle Stores’ sales volume decreased 4.6 per cent.
• Food Stores’ sales volume decreased 2.0 per cent.
• All Other Store Types’ sales volume decreased 2.5 per cent.
• Service Stations’ sales volume decreased 2.1 per cent.
• Liquor Stores’ sales volume increased 0.3 per cent.

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