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Retail sales value down 8.4%

June 30, 2016

The value of total retail sales in May, provisionally estimated at $35.7 billion, was down 8.4% on the same month last year, the Census & Statistics Department reported today.

 

After netting out the effect of price changes over the same period, the volume of total retail sales decreased 9% year-on-year.

 

The sales value of jewellery, watches and clocks, and valuable gifts fell 18.7%. This was followed by commodities in department stores (-5.9% in value); apparel (-5.7%); other consumer goods, not elsewhere classified (-0.3%); electrical goods and photographic equipment (-25.2%); motor vehicles and parts (-6.9%); miscellaneous consumer durable goods (-34.6%); fuels (-2.2%); footwear, allied products and other clothing accessories (-6.3%); books, newspapers, stationery and gifts (-6.0%); furniture and fixtures (-6.0%); Chinese drugs and herbs (-7.2%); and optical shops (-8.8%).

 

The sales value of commodities in supermarkets increased 1.5%, followed by sales of medicines and cosmetics (+0.3%); and food, alcohol and tobacco (+3.1%).

 

The department said many types of retail outlet still register year-on-year declines in sales, partly due to the slowdown in inbound tourism and partly to the more cautious local consumer sentiment amid the subpar economic conditions.

 

The near-term outlook is still subject to a large degree of uncertainty, depending on the performance of inbound tourism and the extent to which local consumption sentiment will be affected by the increased external headwinds and heightened financial market volatility, it added.



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