The value of total retail sales in October, provisionally estimated at $36.1 billion, was down 2.9% on the same month last year, the Census & Statistics Department announced today.
After netting out the effect of price changes over the same period, the volume of total retail sales dipped 2.7% year-on-year.
The sales value of jewellery, watches and clocks, and valuable gifts fell 0.1%.
This was followed by commodities in department stores (-0.8%); apparel (-5.1%); medicines and cosmetics (-1.8%); miscellaneous consumer durable goods (-6.4%); electrical goods and photographic equipment (-21.7%); motor vehicles and parts (-19.6%); books, newspapers, stationery and gifts (-4.3%); and optical shops (-2.1%).
The sales value of commodities in supermarkets increased 3.5%, followed by sales of food, alcohol and tobacco (+1%); other consumer goods (+2.2%); fuels (+5.5%); footwear, allied products and other clothing accessories (+4.9%); furniture and fixtures (+2.8%); and Chinese drugs and herbs (+2.1%).
The department said the year-on-year rate of decline in retail sales narrowed further in October, mirroring the similar performance of visitor arrivals in that month.
The stable job market and increasing household incomes also rendered support to local consumer sentiment.
The near-term outlook for retail sales will still hinge on the performance of inbound tourism as well as the extent to which local consumer sentiment will be affected by the various external uncertainties, it added.
