Retail sales climb for ninth straight month
Retail sales rose for a ninth consecutive month in May, up 1.4 per cent year-on-year. The value of sales for the month was estimated at $89 million.
However, once the figures had been adjusted for inflation it was a relatively flat month, with the volume of retail sales a fraction lower than at the same time last year.
Building material stores continued an upward trend with the value of sales improving by 9.5 per cent. This increase, which was also reflected in the volume of sales, has been linked to residential construction projects.
Apparel stores also reported a better May than last year, with takings up 3 per cent, partly due to higher demand for sales items according to the retail sales index data released by the Department of Statistics.
The value of food sales was up 5.3 per cent, some of that increase was due to higher prices.
Falling fuel prices meant lower sales receipts for service stations, down 4.6 per cent, although the volume of sales was up 4.1 per cent.
Fewer motor vehicles were sold in May compared with the same month in 2014. Motor vehicle stores reported sales receipts were down 5.4 per cent.
Residents also declared $5.6 million in overseas purchases, which was 12 per cent higher than a year ago.
After adjusting for the annual retail sales rate of inflation, measured at 1.5 per cent in May, the volume of retail sales decreased 0.1 per cent.