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 From Hong Kong's Information Services Department
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March 3, 2008
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Economy
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January retail sales up 23.3%
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retail sales up 23.3%
Strong demand: Sales volume of jewellery, watches and clocks and valuable gifts grew 11.6% in January.

The total retail sales value rose to $25.7 billion in January, up 23.3% over a year earlier, the Census & Statistics Department says.

 

The total retail sales volume grew 17.4%, marking the eighth consecutive month of double-digit year-on-year growth in volume.

 

As the Lunar New Year fell in early February this year but in mid-February last year, more significant year-on-year increases in retail sales in some of the outlet types were observed in January.

 

Analysed by type of retail outlet, the sales volume of footwear, allied products and other clothing accessories surged 35.6%. This was followed by electrical goods and photographic equipment, up 34.3%.

 

Other types of retail outlets registering sales volume growth include motor vehicles and parts (+25.2%); miscellaneous consumer goods (+21.6%); commodities in department stores (+19.6%); furniture and fixtures (+19.3%); wearing apparel (+18.5%); jewellery, watches and clocks, and valuable gifts (+11.6%); commodities in supermarkets (+10.4%); food, alcohol and tobacco (+6%); fuels (+4.2%); and miscellaneous consumer durable goods (+3.8%). 

 

The total retail sales volume rose 1.5% in the quarter ending January compared with the preceding quarter.

 

The department said the strength in consumer demand, on the back of strong economic fundamentals and rising labour income, together with the robust inbound tourism, should be favourable to the further expansion of retail business.