Christmas shopping failed to boost the retail sector as turnover in December fell, according to figures released this morning.

According to the Retail Sales Index, total sales for December fell by two per cent and gross turnover was measured at $110 million, $3 million below the $113 million recorded for the same period last year.

The report said: “Holiday shopping did not boost sales as retailers experienced their eleventh consecutive month of negative sales growth.”

After adjusting for the annual retail sales rate of inflation, measured at 2.6 per cent in December, the volume of retail sales fell by five per cent.

* Full story and reaction in tomorrow’s Royal Gazette.