Hong Kong Dec retail sales value up 11.5 pct yr-on-yr; volume up 8.1 pct -UPDATE |
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Thu, 01 Feb 2007 10:16
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HONG KONG (XFN-ASIA) - Retail sales in December rose 11.5 pct year-on-year in value terms to 21.5 bln hkd, and were up 8.1 pct by volume, the government said.Comparative figures in November show retail sales value stood at a revised 17.0 bln hkd, up 7.4 pct from a year earlier, while volume rose 5.0 pct year-on-year.For full year 2006, total retail sales grew 7.3 pct in value and 5.8 pct in volume over the 2005 levels.A government spokesman said the sharp increase in the volume of total retail sales in December 2006 over a year earlier was supported by improved consumer income and economic fundamentals.'The stock market boom should have also lifted consumer sentiment further during the festive season in December, as evidenced by the sharp increases in sales of motor vehicles and other valuable goods,' he said.The spokesman noted that a strong rebound in tourism in December also contributed to retail sales growth during the period.Motor vehicles and parts sales registered the biggest increase of 40.55 pct year-on-year by volume among all sectors in December, followed by electrical goods and photographic equipment, which posted sales growth of 17.2 pct.Jewelry, watches and clocks, and valuable gifts sales rose 13.3 pct in volume; footwear, allied products and other clothing accessories were up 12.6 pct; fuels up 12.4 pct; and, commodities in department stores up 8.7 pct.Sales of food, alcoholic drinks and tobacco rose 5.5 pct in volume; commodities in supermarkets were up 4.3 pct; furniture and fixtures up 3.6 pct; miscellaneous consumer goods up 3.1 pct; wearing apparel up 2.7 pct; and, miscellaneous consumer durable goods up 0.8 pct.Looking ahead, the government said the 'favorable macroeconomic environment and the upbeat consumer sentiment should continue to support' the local retail trade sector.(1 usd = 7.8 hkd)jun.concepcion@xfn.comjc/net
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Hong Kong Dec retail sales value up 11.5 pct yr-on-yr; volume up 8.1 pct 