Hong Kong s retail sales up 15.6% in April
From: Xinhua
The total retail sales value rose to 25.1 billion HK dollars (3.2 billion U.S. dollars) in April, up 15.6 percent over a year earlier, the Census and Statistics Department of Hong Kong Special Administrative Region government announced on Tuesday.
The total retail sales volume grew 12.4 percent after netting out the effect of price changes over the same period.
Gradually improving income and job conditions amid an entrenched economic recovery, together with the growth in inbound tourism, have been providing continuing support to retail business, the department said.
The recently increased level of uncertainty in the external environment, together with the consolidation in the asset markets, may temper somewhat the growth momentum of local consumer demand. However, the further expansion of inbound tourism should remain favorable for retail business.
The sales volume of motor vehicles and parts grew 54 percent, followed by electrical goods and photographic equipment at 26.1 percent; jewelry, watches and clocks, and valuable gifts at 22.1 percent; footwear, allied products and other clothing accessories at 14.6 percent. The sales volume of fuel dropped 0.7 percent.
Taking the first four months together, total retail sales grew 18 percent in value or 15 percent in volume on a year earlier.
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