back their spending in January, according to figures released yesterday by the Statistics Department.

After adjusting for inflation, consumers spent 1.2 percent less in real terms compared to January 1998. The Statistics Department estimated consumers spent $38.5 million in retail stores on the Island in January compared to $38.3 million in January 1998, a 0.6 percent nominal increase.

But the prices of goods and services increased an estimated 1.9 percent during the same period.

The results showed a mixed performance depending on the type of retailer.

Stores in the general category showed real increases while liquor stores, motor dealers and those catering to tourists showed a sharp decline according to the Statistics Department.

While attributing the decline in the retail sector catering to tourists to a 12 percent drop in arrivals in January, the Statistics Department did not release any relevant data.

Stores in the general category had a 6.5 percent increase in gross turnover, a 4.6 percent increase in real terms. Food stores had 5.9 percent more sales, a four percent real increase.

Sales at motor vehicle dealers and service stations fell 16.6 percent, or 18.5 percent in real terms. The Statistics Department attributed the dramatic fall to strong sales in the last quarter of 1998 leading to decreased inventories in January. Motor dealers didn't have the cars to sell. Petrol sales also declined during the month.

Liquor sales were down 3.1 percent in nominal terms, five percent after adjusting for inflation.

BUSINESS BUC