HK total retail sales in Sept. up 5.1 pct

The total retail sales value in September provisionally estimated at 35.8 billion HK dollars (4.62 billion U.S. dollars) rose 5.1 percent year-on-year, Hong Kong Census and Statistics Department announced Thursday.

After netting out the effect of price changes over the same period, the total retail sales volume grew 4.9 percent in the month.

The revised estimate of the value of total retail sales in August increased 8.1 percent over the same period a year earlier, while the volume of total retail sales grew 7.2 percent.

For the first nine months, total retail sales increased 12.5 percent in value and 11.9 percent in volume over the same period a year earlier.

Analyzed by broad type of retail outlet, the sales volume of jewelry, watches and clocks and valuable gifts rose 8.7 percent year-on-year in September. This was followed by sales of commodities in supermarkets, commodities in department stores, apparel and medicines and cosmetics.

The sales volume of food, alcohol and tobacco decreased by 3.3 percent. This was followed by sales of electrical goods and photographic equipment, motor vehicles and parts, fuels, furniture and fixtures, footwear, allied products and other clothing accessories and books, newspapers, stationery and gifts.

The department noted that retail sales grew solidly in September over a year earlier amid largely stable consumer sentiment, although the growth pace was somewhat slower than in the preceding months.

The department said that looking ahead, the still-favorable labor market conditions and continuing growth of inbound tourism should provide support to the retail business in the near term (1 U.S. dollar equals to 7.75 HK dollar).