The value of total retail sales in November, provisionally estimated at $14.1 billion, has risen 5.2% over the same month in 2002.

Overall retail business has recorded positive growth for four straight months, reflecting continued revival in both local consumer spending and visitor spending from the earlier SARS impact. 

The growth in the volume of retail sales accelerated slightly further in November, after netting out the effect of price changes over the same period, the overall volume of retail sales rose 5.2%.

The revised estimate on the value of total retail sales in October was $14.6 billion, up 4% in value or 4.7% in volume over a year earlier.

Analysed by type of retail outlet, sales of electrical goods and photographic equipment increased the most, by 32.9% in volume. This was followed by sales of miscellaneous consumer durable goods (19.9%), furniture and fixtures (15.9%), footwear, allied products and other clothing accessories (15.6%), jewellery, watches and clocks, and valuable gifts (8.5%), commodities in department stores (6.4%), miscellaneous consumer goods (5.5%), and food, alcoholic drinks and tobacco (3.8%).

Meanwhile, sales of cars and parts and fuels fell 24.4% and 4.5% respectively in volume, while sales of clothes and of commodities in supermarkets also fell 2.9% and 0.2% respectively in volume.

Based on the seasonally adjusted series, the overall volume of retail sales rose 3.7% in the three months ending November as compared to the preceding three-month period.

Taking the first eleven months of 2003 together, retail sales fell 3.1% in value or 1.2% in volume, compared to a year earlier.