Today, the Ministry of Economy and Labour released the July 2024 Retail Sales Index publication (attached). 

July’s volume of retail sales index decreased 1.5 per cent compared to last year.  In value terms, retail sales increased to an estimated $117.4 million.

Four of the seven sectors recorded year-over-year volume index decreases in July 2024:  

• The Building Material Stores’ sales volume fell 24.4 per cent.

• The sales volume for Apparel Stores decreased 6.1 per cent.

• Motor Vehicle Stores’ sales volume decreased 5.8 per cent.

• In the All-Other Store Types sector (comprising stores selling household items, furniture, appliances, electronics, pharmaceuticals and tourist-related goods), there was a 0.9 per cent decrease in sales volume.

The following sectors had an increase in sales volume compared to the previous year:

• Liquor Stores’ sales volume increased 0.1 per cent.

• The sales volume for Food Stores increased 1.5 per cent.

• Service Stations’ sales volume increased 4.6 per cent.

Selected overseas declarations increased 26.8 per cent compared to July 2023.

The public can review the July 2024 Retail Sales Index report at https://www.gov.bm/retail-sales-index-rsi.