Retail sales rise
November. An additional shopping day compared with November 1999 helped the bottom line as general retailers saw their first rebound after three straight months of decline.
The retail sales index for November 2000 was 208.7, a 4.9 increase over last year.
Government's statistics department estimated gross turnover retail industry at $50.6 million. After adjusting for inflation the volume of sales increased 2.2 percent.
Strongest gains were realised in the vehicle and service station sector where 12.2 percent growth was seen. Gasoline sales were stronger but statisticians attributed this to weak gas sales in November 1999.
Gearing up for Christmas, November is traditionally the busiest month for overseas shopping by local residents. But last year saw a rise of only .4 percent as locals declared $5.08 million worth of goods.
Overseas spending reportedly represented about ten percent of gross turnover for the local retail sector.
In November food stores posted a 5.5 percent increase in gross receipts while liquor sales remained almost unchanged slipping, .9 percent.
Gross revenue flows for the general retail stores inched up slightly at 2.6 percent.
Hardware stores recorded the largest increase in sales revenue. This was mainly due to increased manufacturing and contract sales.
Furniture and home furnishings saw strong gains due to pre-Christmas sales while pharmaceutical and personal care sales increased only slightly.
Tourist related sales were down and department store sales remained relatively unchanged.