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 From Hong Kong's Information Services Department
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August 8, 2005
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Economy

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Retail sales up 6.2%
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Retail sales
On the rise: The provisional estimate of the total retail sales value in June was $16.6 billion, up 6.2% on the same month last year.

The provisional estimate of the total retail sales value in June was $16.6 billion, up 6.2% on the same month last year, the Census & Statistics Department says. 

 

After netting out the effect of price changes over the same period, the overall retail sales volume rose 5.2%.

 

The department said improvement in employment income, vibrant inbound tourism, and a generally positive economic outlook, should continue to render support to retail sales in the coming months.

 

Electrical goods soar

Increases were recorded in nearly all major types of outlets. Sales of electrical goods and photographic equipment rose most, by 10.7% in volume.

 

This was followed by apparel (by 8.6%), miscellaneous consumer goods (8.3%), motor vehicles and parts (5.2%), miscellaneous consumer durable goods (5%), commodities in supermarkets (4.8%), footwear, allied products and other clothing accessories (4.5%), commodities in department stores (4.4%), furniture and fixtures (4.3%), jewellery, watches and clocks, and valuable gifts (0.8%), and food, alcoholic drinks and tobacco (0.7%). But fuel sales fell 5.8%.

 

The revised estimate of the total retail sales value was $17.6 billion, up 7.1% over May, while the total retail sales volume rose 6.4%.

 

For the first half of 2005, total retail sales rose 7.9% in value or 7% in volume over the same period a year earlier.