Sales volume falls for 26th month
Consumers continue to tighten their purse strings and spend less at the stores — a trend that has been going on for more than two years.
Sales at retail outlets fell in June for the 15th consecutive month, year on year, according to figures released yesterday by Government.
But in real terms — when the impact of inflation is built into the figures — sales volume fell for the 26th successive month.
Consumers spent $93.1 million at the stores during June, $2.3 million or 2.4 percent less than they did in the same month a year earlier. The volume of goods sold, which takes account of inflation, was down 4.4 percent.
The value of goods purchased overseas and declared at the airport shot up 14 percent, to a total of $5.7 million compared to $5 million in June last year.
The slowdown in construction showed up in the sales figures from building supplies stores, which dipped 28.5 percent compared to a year earlier. June was the eighth month in the past year that this sector has seen a double-digit decline.
Motor vehicle outlets suffered their third down month in a row, with an 8.3 percent fall in sales, while boat and marine suppliers saw an 11.8 percent dip and furniture stores a seven percent fall.
There was better news for apparel stores, which recorded a 2.1 percent rise in sales. It was the second successive positive month for this sector — the first time that has happened for two years.
Food stores' sales also increased 2.1 percent, although this was driven by the 2.7 percent rise in food prices through the year.
Service stations also saw a 2.5 percent increase in sales, even though the price of fuel was 0.2 percent lower than in June 2009.