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12:25 GMT
01
Sep 2008

Hong Kong Retail Sales Growth Picks up in August

(RTTNews) - Retail sales in Hong Kong rose at a faster pace year-on-year in July, a report released by the Census and Statistics Department said Monday.

The value of retail sales increased 13.8% in July compared with an 11.7% rise in June. Analysts expected a rise of 11%. Retail sales were valued HKD 24.2 billion.

Retail sales volume grew 6.6% compared with 4.1% growth in the preceding month. The volume of retail sales totaled HKD 22.2 billion.

On the basis of the type of outlet, fuel’s retail sales was the highest. Sales grew 45.4% under this category. The second fastest growth in sales of 18.3% was of jewelry, watches and clocks and valuable gifts.

In other categories, sales of food, beverages and alcohol grew 10.3%, while those of supermarkets and department stores increased 10.5% and 11.4% respectively. Sales of consumer durable goods rose 17.1%, and those of other consumer goods were up 14.1%.

For the first seven months of the year, the value of retail sales grew 15.6% year-on-year, while the volume rose 18.9%, the report added.

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Posted in Categories: Economy, Releases.

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