increase in real terms over 1997 after accounting for an inflation rate of two percent.

Meanwhile in the month of December car dealers prospered while retailers in the tourism sector saw their sales decline, according to the latest figures from the Statistics Department.

The total value of retail sales in December rose 5.3 percent in real terms compared to the previous year, after accounting for an inflation rate of 1.9 percent.

The Statistics Department estimated gross turnover for December at $67.4 million, 7.3 percent higher than December 1997. The value of sales in the motor vehicle and service station sector rose 21.9 percent in real terms compared to December 1997.

"With dealers continuing to receive shipments, consumers are able to buy the vehicle of their choice,'' the Statistics Department stated. "Sales of petrol, however, continued to decline.'' For the first time all year liquor sales reached double-digit levels, increasing six percent in real terms.

The value of food sales continued an upward trend, increasing one percent over December 1997. Sales increased by one percent.

"While hardware stores recorded strong sales due to the continued health in the construction industry, furniture and appliance sales declined,'' the department stated.

"Department stores recorded moderate growth for the month although stores that cater primarily to locals had flat sales while those that cater to tourists recorded declines. Sales of pharmaceuticals, on the other hand, were up moderately.'' BUSINESS BUC