The level of consumer spending continued to recover during November 2001 following the catastrophic events of September 11, according to the latest Retail Sales Index released yesterday.

The year-over-year rise in November retail sales activity of 2.7 percent was about half of that for 2000, and after adjusting for inflation (2.9 percent in November 2001), the total volume of retail sales fell fractionally by 0.2 percent.

Gross turnover in the retail industry was estimated at $43 million.

Clothing stores reported a moderate decline of 2.1 percent in gross receipts during the month following dismal performances in September and October.

Approximately 40 percent of the retailers participating in the survey reported lower sales activity which was a significant improvement after 80 percent and 70 percent of retailers reported declines in September and October respectively.

Petrol sales in the service station sector fell 9.6 percent below the previous year's level which was due in part to lower world market prices.

Spending on hardware and building supplies showed an increase of 5.6 percent in retail sales receipts during the month.

The motor vehicle sector experienced an increase of 6.7 percent in gross receipts during the month with dealers reporting mixed results due to various changes in their levels of stock.

Gross revenue flows in the all other store types sector increased by 2.7 percent.

Sales of furniture and home furnishings increased strongly due to pre-Christmas sales held during the month as well as increases in special orders. Spending on pharmaceutical products, personal care supplies and boating equipment also increased.

In contrast, tourist-related sales and sales of electronics contracted during the month.

Liquor merchants reported an increase of 8.1 percent increase in sales receipts and gross receipts for food stores increased 4.3 percent during the month.

Residents returning from overseas vacation and business trips declared purchases of goods valued at $4.72 million. This level of expenditure fell 7.1 percent below the $5.08 million declared in November 2000 and was attributed to fewer residents travelling overseas during the month - 28,469 in November 2001 versus 36,746 in November 2000.

There were 25 shopping days during the month of November 2001, the same as November 2000.