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 From Hong Kong's Information Services Department
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June 1, 2010
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Economy
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April retail sales up 15.6%
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Census & Statistics Department

The total retail sales value rose to $25.1 billion in April, up 15.6% over a year earlier, while the total retail sales volume grew 12.4% after netting out the effect of price changes over the same period, the Census & Statistics Department says.

 

Gradually improving income and job conditions amid an entrenched economic recovery, together with the growth in inbound tourism, have been providing continuing support to retail business, it said.

 

The recently increased level of uncertainty in the external environment, together with the consolidation in the asset markets, may temper somewhat the growth momentum of local consumer demand. However, the further expansion of inbound tourism should remain favourable for retail business.

 

Analysed by broad type of retail outlet, the sales volume of motor vehicles and parts grew 54%, followed by electrical goods and photographic equipment (26.1%); jewellery, watches and clocks, and valuable gifts (22.1%); footwear, allied products and other clothing accessories (14.6%); miscellaneous consumer durable goods (12.5%);  department store commodities (9.9%); furniture and fixtures (9.8%); food, alcohol and tobacco (8.5%); apparel (8.4%); miscellaneous consumer goods (5.4%); and supermarket commodities (0.8%). The sales volume of fuel dropped 0.7%.

 

Taking the first four months together, total retail sales grew 18% in value or 15% in volume on a year earlier.