Retail sales growth remained firm in August the with total value up 10.4% on the same month last year to $22.8 billion and volume up 3.9%, the Census & Statistics Department says.

Taking this year's first eight months together, total retail sales rose 15% in value and 8.3% in volume over the same period last year.

The sales volume of electrical goods and photographic equipment rose 21.6% in August, followed by furniture and fixtures (14.7%); fuels (7.8%); apparel (5.2%); food, alcohol and tobacco (3.5%); commodities in department stores (3.3%); jewellery, watches and clocks, and valuable gifts (2.4%); commodities in supermarkets (2%); and, miscellaneous consumer goods (1.2%).

The sales volume of motor vehicles and parts and that of footwear, allied products and other clothing accessories dipped 14.8% and 4.1%, while miscellaneous consumer durable goods also fell 0.9%.

The recent global financial turmoil will affect local asset markets, impacting consumer sentiment and the local economy, the department said. The Government will monitor the situation closely.