The Census and Statistics Department (C&SD) released the latest figures on retail sales October 2.
The value of total retail sales in August 2007, provisionally estimated at $20.6 billion, increased by 15.0% over a year earlier. After netting out the effect of price changes over the same period, the volume of total retail sales increased by 12.5% in August 2007 over a year earlier.
The revised estimate of the value of total retail sales in July 2007, at $21.3 billion, increased by 14.3% over July 2006, while the volume of total retail sales increased by 12.1%.
Taking the first eight months of 2007 together, total retail sales increased by 10.6% in value or 8.5% in volume over the same period a year earlier.
Analysed by type of retail outlet and comparing August 2007 with August 2006, sales of jewellery, watches and clocks, and valuable gifts (+31.8% in volume); footwear, allied products and other clothing accessories (+19.5%); miscellaneous consumer durable goods (+10.3%); commodities in department stores (+8.7%); wearing apparel (+8.1%); miscellaneous consumer goods (+7.5%); furniture and fixtures (+7.0%); and commodities in supermarkets (+5.6%).
Based on the seasonally adjusted series, the volume of total retail sales in the three months ending August 2007 increased by 8.2% compared with the preceding three-month period.
These retail sales statistics are primarily intended to measure the sales receipts of goods sold bylocal retail establishments, for gauging the short-term business performance of the local retail sector. They cover consumer spending on goods but not on services.
marketing@alchempro.com
