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Food leads healthy increase in February retail sales

The monthly index for the total value of retail sales increased 4.8 percent in February over the same month in 1997. Gross turnover was estimated at $35 million for the month.

But retail sales index statistics made available by Government's Statistics Department did not this month include an estimate of overseas spending by residents. A computer error was blamed.

After adjusting for the two percent rate of inflation for February, the total volume of retail sales increased 2.7 percent year-over-year. There were 24 shopping days in February this year, the same as last year.

The food sector led the way with a 7.5 percent year-over-year increase, continuing an upward trend. Liquor sales were off by 2.1 percent.

In general stores, sales rose 5.4 percent. There was a strong demand for clothing and jewellery, largely the result of special sales, but the demand for footwear declined compared to last year.

Department stores' sales grew marginally, but sales of pharmaceuticals experienced steady growth.

Demand for appliances was strong due to sales during the month. Hardware sales were up marginally, but furniture sales were down.

Sales in stores that cater primarily to tourists were marginally down, a reflection of the flat tourist arrivals for the month.

Sales were up fractionally (0.4 percent) in the vehicle and service station sector.