Shoppers spent $4 million less in August than the same time last year as retail sales fell for the16th consecutive month.

According to the Retail Sales Index, released this morning, consumers paid an estimated $93 million for retail goods — $4 million less than was spent in the same period last year.

The report said: “Apparel sales exerted the biggest downward impact on the year-on-year decline. Nearly all sectors were negatively affected by lower sales, with the exception of food and liquor stores which recorded gains in revenue.

“After adjusting for the annual retail sales rate of inflation, measured at six percent in August, the volume of retail sales shrank by seven percent. This was the sixteenth consecutive month of declines in the volume of retail sales.”

Apparel sales, alone, experienced further declines as retailers felt the impact of reduced customer spending with sales falling 20 percent during August.

* Are you in business? What should be done to reverse this decline? Email news@royalgazette.bm