The value of total retail sales in September rose to $21.4 billion, up 2.4% on the same month last year. After netting out the effect of price changes over the same period, the volume of total retail sales grew 1%.
The Census & Statistics Department today said retail sales reverted to a small year-on-year increase in September after falling for seven consecutive months, in tandem with a further improvement in local consumer spending and also the revival in inbound tourism.
The gradual improvement of the local economy, the resilience of the labour market as well as the Government's relief measures should continue to render support to consumer confidence and the performance of retail trade. The rebound in inbound tourism will also help, the department said.
The sales volume of fuels increased 11.6%, followed by sales of electrical goods and photographic equipment (+8.3%), food, alcohol and tobacco (+5.9%), footwear, allied products and other clothing accessories (+4%), jewellery, watches and clocks, and valuable gifts (+2.7%), miscellaneous consumer durable goods (+2.3%), and commodities in department stores (+1.9%).
The sales volume of motor vehicles and parts dropped 7.8%, followed by apparel (-5.6%), commodities in supermarkets (-3%), furniture and fixtures (-1.3%) and miscellaneous consumer goods (-1.2%).
Total retail sales in the first nine months of the year dropped 3.4% in value or 4.2% in volume compared with the same period last year.
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