Hurricane Felix sends sales plummeting for seventh successive month
Hurricane Felix wreaked havoc on retailers, according to the retail sales index.
The volume of retail sales fell for the seventh consecutive month, decreasing by 9.2 percent year-over-year. And as a result of a two-day shut down due to the hurricane, more than half of the participating retailers reported softer sales for the month. Those in the retail outlets catering to visitors experienced the largest decline.
"The arrival of Hurricane Felix forced the cancellation of many flights and ship visits to the Island during the month,'' a spokesperson in Government's Statistical Department noted. "This contributed to a sharp decline in visitor arrivals which adversely affected tourist spending.'' Stores -- particularly furniture, electronic equipment, and clothing -- catering mainly to locals also reported revenue flows below the levels reached in August last year.
Liquor stores also experienced an across-the-board decline in sales as gross receipts fell by five percent over the same period last year.
And the motor vehicle and service station sector recorded a 17 percent decline year-over-year.
While petrol sales surpassed the previous year's level, vehicle sales fell below the mark reached in August last year.
The decline was mainly attributed to higher priced vehicles resulting from a weakening of the dollar on the foreign exchange markets.
However, overseas spending remained unchanged. Residents returning from trips abroad declared purchases of goods worth $2.78 million.