Worse news for retail sector during September

Posted by on Nov 16, 2010 in Local News & Alerts | 0 comments

CONSUMERS spent an estimated $82.7 million on retail sales during September 2010.

This represented a drop of $5.2 million or 5.9 per cent, when compared with the level recorded in September 2009.

Retailers of building materials, motor vehicles and apparel reported the largest year-over-year percentage declines.

The value of overseas purchases declared by residents returning to the Island from business and vacation trips was $5.4 million during September 2010.

This was 12.9 per cent lower than the $6.2 million declared in the same month of last year.

Combined local and overseas spending totalled $88.1 million during the month.

After adjusting for the annual retail sales rate of inflation, measured at 2.8 per cent in September 2010, the volume of retail sales contracted by 8.5 per cent.

There were 24 shopping days in September 2010, one less than in 2009.

This was due to Hurricane Igor falling on a Monday, which prevented businesses from operating that day.

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