Press here to Skip to the main content
Font Size
Default Font Size Larger Font Size Largest Font Size RSS Subscription Advanced Search Sitemap Mobile/Accessible Version 繁體 简体

Retail sales value down 2.0%

March 31, 2015

In the first two months of 2015, total retail sales dropped 2.0% in value and 0.3% in volume over the same period last year, the Census & Statistics Department announced today.

 

The value of total retail sales in February, provisionally estimated at $46.6 billion, increased 14.9% over a year earlier.

 

After netting out the effect of price changes over the same period, the volume of total retail sales increased 18.2%.

 

The department said retail sales tend to show greater volatility in the first two months of a year owing to the timing of the Lunar New Year as local consumer spending normally peaks before the festival.

 

As the Lunar New Year fell on February 19 this year but on January 31 last year, it is more appropriate to analyse the retail sales figures for January and February taken together in making a year-on-year comparison.

 

Analysed by broad type of retail outlet and comparing the total sales in January and February, the sales value of food, alcohol and tobacco increased the most, by 15.3%. This was followed by electrical goods and photographic equipment (+12.7%) , motor vehicles and parts (+11.8%), and furniture and fixtures (+8.9%).

 

The sales value of fuels decreased 16.6% in the first two months. This was followed by jewellery, watches and clocks, and valuable gifts (-15.9%) and miscellaneous consumer durable goods (-15.1%).

 

The department said retail sales in the first two months of 2015 were nearly flat in volume terms compared to the same period last year. The subdued performance was mainly due to the notable fall in the sale of jewellery, watches and clocks, and valuable gifts, conceivably reflecting weak tourist spending on big-ticket items.

 

Yet, the performance of many items more closely related to local consumption showed some relative improvement from December, it added.



Top
Plastic Shopping Bag Charging