Statistics

HK retail sales up 19% in March

(Xinhua)
Updated: 2010-05-04 09:07

HONG KONG - Hong Kong's total retail sales value rose to HK$24.7 billion ($3.2 billion) in March, up 19 percent over a year earlier, the Census and Statistics Department said on Monday.

According to the statistics announced Monday by the department, the total retail sales volume grew 17.2 percent after netting out the effect of price changes over the same period.

The department said the retail sales continued to grow robustly in the month, supported by strengthening consumer sentiment on the back of improving labor market conditions and vibrant expansion in inbound tourism.

The ongoing economic recovery should continue to support retail business in the period ahead, it said.

Taking the first three months together, total retail sales climbed 18.8 percent in value, or 15.8 percent in volume, on a year earlier.

Based on the seasonally adjusted series, the total retail sales volume rose 5.3 percent in the first quarter compared with the preceding quarter.

The total retail sales value in February is revised to HK$26.9 billion, up 35.8 percent on a year earlier, while the total retail sales volume rose 31.5 percent.

Combining the first two months, retail sales grew 18.7 percent in value, or 15.1 percent in volume, over a year earlier.