Retail sales value rises 1.4%

January 3, 2019

The value of total retail sales in November 2018, estimated at $39.2 billion, increased 1.4% compared to the same month a year ago, the Census & Statistics Department announced today.

 

After taking out the effect of price changes over the period, the volume of total retail sales in the month rose 1.2% year-on-year.

 

The sales value of commodities in department stores increased 3.9%.

 

This was followed by sales of medicines and cosmetics (+10.1% in value); food, alcoholic drinks and tobacco (+1.9%); other consumer goods, not elsewhere classified (+14.3%); motor vehicles and parts (+7%); fuels (+3.1%); footwear, allied products and other clothing accessories (+1.7%); furniture and fixtures (+2.8%); books, newspapers, stationery and gifts (+6.2%); and optical shops (+5.4%).

 

Meanwhile, the sales value of jewellery, watches and clocks, and valuable gifts decreased by 3.9%.

 

That of electrical goods and other consumer durable goods, not elsewhere classified dropped 4.9%; commodities in supermarkets fell 0.1%; wearing apparel dropped 3.6%, and Chinese drugs and herbs decreased 0.4%.

 

The Government said retail sales decelerated again to a modest growth in November after some acceleration in October.

 

It said the generally moderated growth in retail sales in recent months reflected more cautious consumption sentiment in the face of various external uncertainties such as the US-Mainland trade tensions and volatilities in the global financial markets.

 

While the favourable local job and income conditions and continued expansion in inbound tourism should provide some support to the retail sector in the near term, consumer sentiment could be affected by weaker asset prices and the external uncertainties, it added.

Back to top