Retail sales rise 11 percent
The total value of retail sales increased a strong 13.3 percent in April over the same month in 1997, with gross turn-over estimated at $46.3 million.
The statistics department of the Ministry of Finance said yesterday that after adjustment for inflation (1.8 percent in April), the total volume of retail sales increased 11.3 percent.
The figures provide fresh indication of the potential for more positive news for retailers this year.
There were 25 shopping days in April this year, one less than last year, with the Easter Holiday during the month.
The motor vehicle and service station sector led again, with sales increasing 25.4 percent, year over year.
Dealers reported strong demand for cars and bikes. Some said that it follows a soft April 1997. Meanwhile, petrol sales were down.
In the general stores category, sales rose 11.6 percent, as Easter spending was partially responsible. Appliance and hardware stores saw increased activity as furniture sales were flat.
Sales from food stores grew 11.1 percent and liquor sales increased for the second straight month, this time up by 6.7 percent, after months of declines.
No figures of overseas spending were produced for the month.