Retail sales maintained solid growth in November, reaching $15.2 billion, up 7.3% over a year earlier. The overall retail sales volume grew 6.8%, with sales of motor vehicles and parts surging 42.5% in volume.

Taking the first 11 months of 2004 together, retail sales went up 11.1% in value or 9.2% in volume over the same period in 2003.

The distinct growth in sales of many of the retail outlet types signified continued strength in local consumption demand. Retail sales of consumer durable items, including both motor cars and electrical appliances, continued to surge.

Sales of motor vehicles and parts increased the most, by 42.5% in volume. This was followed by sales of electrical goods and photographic equipment (17.9%); wearing apparel (9.9%); miscellaneous consumer goods (7%); commodities in supermarkets (6.3%); commodities in department stores (3.8%); furniture and fixtures (1.1%); footwear, allied products and other clothing accessories (0.9%); miscellaneous consumer durable goods (0.9%); and food, alcoholic drinks and tobacco (0.6%).

Fuel sales fell in volume

Sales of jewellery, watches and clocks, and valuable gifts remained virtually unchanged. Sales of fuels, on the other hand, fell 11.8% in volume.

Based on the seasonally adjusted series, the overall volume of retail sales increased 2% in the quarter ending November compared to the preceding quarter.