Retail Sales Index – May 2023

July 5, 2023

On a year-on-year basis, retail sales rose 1.8% in May 2023, compared to the 3.7% increase in April 2023. Excluding motor vehicles, retail sales rose 1.8%, compared to the 4.3% increase in April 2023. On a seasonally adjusted basis, retail sales declined 0.2% in May 2023 over the previous month. Excluding motor vehicles, seasonally adjusted retail sales decreased 0.4% compared to April 2023.

The estimated total retail sales value in May 2023 was $4.0 billion. Of this, online retail sales made up an estimated 11.8%, compared to the 11.9% recorded in April 2023. Excluding motor vehicles, the total retail sales value was about $3.6 billion, of which 13.3% came from online retail sales. Online retail sales of the Computer & Telecommunications Equipment, Furniture & Household Equipment and Supermarkets & Hypermarkets industries made up 48.9%, 29.1% and 13.3% of the total sales of their respective industry.

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