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Statistics

HK retail sales up 6.6% in January

(Xinhua)
Updated: 2010-03-05 10:11

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HONG KONG: Hong Kong's total retail sales value rose to HK$29.3 billion ($3.77 billion) in January, up 6.6 percent over a year earlier, while the total retail sales volume grew 3.2 percent, the Census and Statistics Department said Thursday.

The department said the year-on-year comparison might have been affected by the Chinese New Year falling on February 14 this year but on January 26 last year.

Besides, retail sales showed a further year-on-year expansion in January and on a seasonally adjusted basis, retail sales rose notably in recent months.

Consumer sentiment should stay firm going forward as the economy is on track to recovery, which will be further supported by the relief measures announced in the 2010/2011 budget. This, coupled with the robust performance of inbound tourism, will help underpin retail business in the period ahead, the department said.

Analyzed by type of retail outlet, the sales volume of motor vehicles and parts grew 56.8 percent, followed by miscellaneous consumer durable goods, 51.6 percent, furniture and fixtures, 17.8 percent, jewelry, watches and clocks, and valuable gifts, 15.5 percent, electrical goods and photographic equipment, 14.5 percent, and apparel, 2.4 percent.

Decreases were recorded in commodities in supermarkets, footwear, allied products and other clothing accessories, miscellaneous consumer goods, commodities in department stores, and food, alcohol and tobacco.

Based on the seasonally adjusted series, the total retail sales volume rose 8 percent in the three months ending January compared with the preceding three-month period.

The total retail sales value in December last year was revised to HK$29.4 billion, up 16.1 percent on a year earlier, while the total retail sales volume rose 11.4 percent.