The total retail sales value in November 2006, provisionally estimated at $17 billion, grew 7.4% from a year earlier, says the Census & Statistics Department.

The month saw the retail sales volume grow 4.8% from a year earlier after netting out the price changes over the same period.

November retail sales were boosted by improving employment income and better job prospects. Looking ahead, the macroeconomic conditions should remain favourable and supportive to the retail business, the department said.

The revised estimate of the total retail sales value in October 2006, at $17.8 billion, grew 7% over the same month in 2005, while the total retail sales volume was up 5.2%.

In the 11 months ending November 2006, total retail sales increased 6.9% in value or 5.5% in volume from a year earlier.

Eletrical goods grow over 10%

The sales volume of electrical goods and photographic equipment recorded an 11.9% year-on-year increase in November.

This was followed by sales of motor vehicles and parts (+8.3% in volume); furniture and fixtures (+7.6%); food, alcoholic drinks and tobacco (+6.7%); miscellaneous consumer goods (+6.1%); commodities in department stores (+4.9%); jewellery, watches and clocks, and valuable gifts (+4.7%); fuels (+4.6%); and commodities in supermarkets (+3%).

The month saw the sales volume of miscellaneous consumer durable goods and of wearing apparel fall 3.6% and 1.9% over the same period of 2005. The sales volume of footwear, allied products and other clothing accessories remained virtually unchanged.

Based on the seasonally adjusted series, the total retail sales volume increased by 1.3% in the three months ending November 2006, compared with the preceding three-month period.