Accelerating demand: The sales volume of motor vehicles and parts surged in February, up 33.6%.

February saw the total retail sales value surge to $22.8 billion, up 9.5% over a year earlier, the Census & Statistics Department said.

After netting out the effect of price changes over the same period, the total retail sales volume rose 4.5%.

The department said total retail sales rose 16.4% in value or 11.1% in volume over a year earlier when taking the first two months together.

Rising labour income, improved job market and sustained expansion of inbound tourism should support the retail business, though the effect of the global financial market turmoil on Hong Kong's retail business must be monitored.

Analysed by type of retail outlet, the volume of sales of motor vehicles and parts increased the most, by 33.6%. This was followed by sales of electrical goods and photographic equipment (24.4%); footwear, allied products and other clothing accessories (20.2%); wearing apparel (17.2%); commodities in department stores (14.1%); miscellaneous consumer goods (13.7%); miscellaneous consumer durable goods (7.7%); furniture and fixtures (7.3%); commodities in supermarkets (5.8%); and jewellery, watches and clocks, and valuable gifts (4.7%).   

The sales volume of food, alcoholic drinks and tobacco dropped 5.7%, while that of fuels fell 0.3% in the month.

On a seasonally adjusted basis, the total retail sales volume grew 2.5% in the three months ending February compared with the preceding three-month period.