Car buyers help to drive up June retail sales
A 35.6 percent increase in motor vehicle sales and service helped drive up retail sales for June, according to statistics released yesterday.
The Retail Sales Index rose 9.7 percent for the month over June, 1999, with turnover in the retail sector recorded at $56.3 million, compared to $51.3 million last year. Adjusting for consumer price inflation of 2.6 percent, the volume of retail sales increased 6.9 percent.
The report said vehicle sales were driven by high inventory levels of new lines.
Among general retail stores, gross revenue flows increased 7.5 percent year-over-year. Sales of furniture, building supplies, personal care supplies, over-the-counter medicines, clothing, footwear and accessories were all up over last year.
Stores catering to tourists reported mixed results, with some registering higher volume due to the Tall Ships, while others reported weak sales.
Food sales edged up 5.2 percent, while liquor store sales slipped one percent.
Yesterday's release was supplemented with year-to-date figures, which set retail sales at $287 million, up 5.1 percent over last year. Volume increased 2.2 percent when inflation is accounted for.
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