Today, the Ministry of Economy and Labour released the December 2023 Retail Sales Index publication (attached). 

December's volume of retail sales index decreased by 2.3 per cent compared to last year.  In value terms, retail sales remained unchanged at an estimated $118.9 million.

Five of the seven sectors recorded year-over-year volume index decreases in December 2023:    

• The sales volume for Food Stores fell 0.2 per cent.
• The Liquor Stores' sales volume fell 0.8 per cent.
• The sales volume for Building Material Stores decreased 3.0 per cent. 
• The sales volume at Apparel Stores decreased 6.1 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 6.0 per cent.

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

• Motor Vehicle Stores' sales volume increased 3.3 per cent.
• Service Stations' sales volume grew 3.8 per cent.

Selected overseas declarations decreased 3.3 per cent compared to December 2022.

The public can review the December 2023 Retail Sales Index report at https://www.gov.bm/retail-sales-index-rsi.