The value of total retail sales in June 2007, provisionally estimated at $19.9 billion, increased by 14.3% over a year earlier. After netting out the effect of price changes over the same period, the volume of total retail sales increased by 12.8% in June 2007 over a year earlier.
The revised estimate of the value of total retail sales in May 2007, at $20.5 billion, increased by 10.2% over May 2006, while the volume of total retail sales increased by 9.4%.
Taking the first half of 2007 together, total retail sales increased by 9.3% in value or 7.2% in volume over the same period a year earlier.
Analysed by type of retail outlet and comparing June 2007 with June 2006, This was followed by sales of jewellery, watches and clocks, and valuable gifts (+18.2%); footwear, allied products and other clothing accessories (+17.7%); commodities in department stores (+15.0%); furniture and fixtures (+14.8%); wearing apparel (+14.4%); miscellaneous consumer durable goods (+8.8%); miscellaneous consumer goods (+6.9%); commodities in supermarkets (+4.8%).
Based on the seasonally adjusted series, the volume of total retail sales increased by 2.5% in the second quarter of 2007 compared with the preceding quarter.
These retail sales statistics are primarily intended to measure the sales receipts of goods sold by local retail establishments, for gauging the short-term business performance of the local retail sector. They cover consumer spending on goods but not on services.
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