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Retail sales rose in July on the back of pent-up demand for construction materials and a spike in boat purchases. After adjusting for inflation, retail sales volume was up 1.5 per cent from July 2019. In value terms consumers spent an estimated $105....

Employment income plunged by more than $113 million during the second quarter as restrictions to curb the spread of Covid-19 sparked a wave of layoffs and reduced hours. Data released by the Department of Statistics offer a glimpse into the economic ...

The inflation rate was zero in June, meaning consumers paid the same as they did a year earlier for a basket of goods and services. It was the second monthly Consumer Price Index report this year to show a zero inflation rate, after April, the month ...

Policymakers are gambling that they will be able to pay back the large increases in national debt accrued in response to the Covid-19 pandemic. As Covid-19 brought economies to a standstill, many governments threw a lifeline to businesses and househo...

The group tasked with developing ideas for economic rejuvenation has been processing dozens of “quick win” suggestions. The Economic Advisory Committee, formed by Curtis Dickinson, the finance minister, two months ago includes representatives from lo...

Economic growth slowed in the second half of last year, government statistics reveal. Gross domestic product contracted by 0.1 per cent in the third quarter and grew by 0.3 per cent in the fourth quarter, taking inflation into account. The two report...

Bermuda’s balance of payments surplus was $763 million in 2019, with the value of goods and services sold by the island to the rest of the world easily dwarfing the value of goods and services the island bought from overseas. However, the surplus was...

Retail sales jumped 3.5 per cent in March, helped by a 24.3 per cent rise in the volume of food sales as many people stocked up ahead of restrictions because of the Covid-19 pandemic. Supermarkets, petrol stations and pharmacies were among the “essen...

The rate of inflation fell to 0.3 per cent in March, its lowest level since May last year. In March, the inflation rate was 0.6 of a percentage point lower than it had been in February. Between February and March, the average cost of goods and servic...

Retail sales edged 1.1 per cent higher in February than in the same month last year, after adjustment for inflation. Food stores recorded the largest volume increase of 5.6 per cent. Retailers partly attributed the higher sales volume to the extra sh...