Overall retail sales increased by 2.0% compared to May 2021 after adjusting for retail sales inflation, which was measured at 4.5% in May, according to the recently released Retail Sales Index.
A government spokesman said, “Today, the Ministry of Economy, Labor and Welfare released the retail sales index for May 2022. Retail sales in May increased by 2.0 compared to last year. increased to $104.4 million.
“Compared to the pre-pandemic period in May 2019, sales volumes declined by 3.6%, with growth seen in three sectors in May 2022.
Charts extracted from the report:
“Apparel store sales increased 28.8%, reflecting increased spending by residents due to Bermuda Day celebrations and the easing of COVID-19 restrictions. It was below %.
“Car dealership sales increased by 24.9%, as more cars were sold than in the previous year. I was.
“Gas station sales were up 10.7% from last year and 6.4% below pre-pandemic sales in 2019. The increase was due to celebrations of Bermuda Day and the Sail GP event.
“All other sectors saw lower sales compared to the previous year.
“Building material store sales fell by 0.8%. However, sales volumes in this sector were 17.6% above 2019 sales levels.
“For all other store-type sectors, [comprising of stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods], down 1.5% due to lower sales of household goods, boats and marine products. Sales in the sector were 9.8% below his pre-pandemic sales in May 2019.
“Liquor store sales fell 1.1%, while food store sales fell 7.4%. Compared to pre-pandemic sales in 2019, liquor store sales increased 2.4%, while food store sales decreased by 5.3%.
“Overseas declarations increased by 32.2% compared to May 2021 and by 61.6% in the pre-pandemic period, mainly impacted by courier imports.”
The full text of the retail sales index for May 2022 is below. [PDF here]:
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