Hong Kong retail sales value up 8.8pc in May as volume grows 5.8pc

HONG KONG retail sales in May rose 8.8 per cent in value year on year to HK$36 billion (US$4.64 billion), according to provisional estimates compiled by the Census & Statistics Department.

After netting out the effect of price changes over the same period, the volume of total retail sales rose 5.8 per cent, a statement from the HK Government Information Services (GIS) said.

The revised estimate of the value of total retail sales in April, at HK$35.7 billion, was up 11.4 per cent compared to the same month last year, while the volume of total retail sales increased 7.6 per cent.

In the first five months of the year, total retail sales increased 13.5 per cent in value and 9.1 per cent in volume over the same period a year earlier.

The volume of sales of miscellaneous consumer durable goods increased the most by 52.7 per cent. This was followed by sales of motor vehicles and parts (up 41 per cent); electrical goods and photographic equipment (up 20.1 per cent); commodities in supermarkets (up 9.1 per cent); footwear, allied products and other clothing accessories (up 6.9 per cent); commodities in department stores (up 5.9 per cent); miscellaneous consumer goods (up 2.1 per cent); fuels (up 1.3 per cent); and apparel (up 0.7 per cent).