Retail figures in Jersey, Channel Islands declining
Jersey could be at the start of a ‘double dip’ recession, the president of the Jersey Chamber of Commerce, David Warr, has suggested, following the release of the latest retail statistics.
The figures for the past quarter show that non-food sales dropped for the first time in about a year and food sales are still below what they were four years ago.
Sales on non-food items in Jersey had risen steadily since the second quarter of 2010 but in the last three months they dropped by three per cent.
It meant that while non-food sales were four per cent higher than last year, they were still lower than they were in 2008, before the recession really took hold.
However, the numbers – released by the States Statistics Unit – showed that the volume of food sales was similar to the two previous quarters and two per cent higher than last year.
Sales plummeted from the second quarter of 2008 and continued to decline until the end of 2009. But the last year and a half has been more positive for the industry, with shoppers steadily returning to stores.
Warr said that the figures for the next quarter would make it clear whether Jersey was in the double dip territory or if the economy had made a recovery. However, he is also worried that the jobs market in Jersey is faltering. There are currently 1,350 people seeking work.
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