August 2024 Retail Sales Index

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

August's volume of retail sales index decreased 5.4 per cent compared to last year.  In value terms, retail sales decreased to an estimated $97.7 million.

One of the seven sectors recorded a year-over-year volume index increase in August 2024:  

• The sales volume for Building Material Stores increased 5.4 per cent.

The following sectors had a decrease in sales volume compared to the previous year:

• The Food Stores’ sales volume decreased 3.7 per cent. 

• The Liquor Stores’ sales volume fell 3.7 per cent.

• The sales volume for Motor Vehicle Stores decreased 3.1 per cent.

• The Service Station’s sales volume decreased by 1.5 per cent.

• The sales volume at Apparel Stores decreased 14.3 per cent.

• The sales volume in the All-Other Store Types sector (comprising stores selling household items, furniture, appliances, electronics, pharmaceuticals, and tourist-related goods) decreased by 9.1 percent.

Selected overseas declarations increased 3.5 per cent compared to August 2023.

The public can review the August 2024 Retail Sales Index report at /retail-sales-index-rsi.