Retail sales up 5% in April, propped up by motor vehicle transactions

Sales decreased 0.7% excluding car deals.

Islandwide retail sales increased 5% year-on-year in April, according to data released today by the Ministry of Trade and Industry (MTI).

The headline figure was propped up by a robust 56.4% growth in motor vehicle sales. Excluding motor vehicle sales, retail sales declined 0.7% year-on-year.

On a month-on-month basis, sales increased 0.8% in April over the previous month. Excluding motor vehicles, retail sales rose 0.8%.

The total retail sales value in April 2015 was estimated at $3.3 billion, higher than the $3.1 billion in April 2014.

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