HK's retail sales up 12.8 pct in May

The total retail sales value in May, provisionally estimated at 40.6 billion HK dollars, rose 12.8 percent over a year earlier, Hong Kong Census and Statistics Department said Tuesday.

After netting out the effect of price changes over the same period, the total retail sales volume increased 12.2 percent.

Analyzed by broad type of retail outlet, the volume of sales of jewelry, watches and clocks, and valuable gifts grew 35.6 percent. This was followed by growth in sales of commodities in department stores, wearing apparel, commodities in supermarkets and medicines and cosmetics.

The volume of sales of electrical goods and photographic equipment dropped 2.5 percent year-on-year in May. Decreases were also recorded for sales of motor vehicles and parts, fuels, books, newspapers, stationery and gifts, and furniture and fixtures.

The revised estimate of the total retail sales value in April rose 20.7 percent compared with last year, while the total retail sales volume increased 19.4 percent.

For the first five months, total retail sales grew 15 percent in value and 14.5 percent in volume over a year earlier.

The retail sales growth in May signifies that the local consumption market remains vibrant, the department said.

The department said that looking ahead, optimistic local consumer sentiment amid favorable job and income conditions, along with sustained growth in inbound tourism, should continue to support the retail business in the near term.