Hong Kong Jan retail sales up 1.0 pct yr-on-yr by value, up 2.0 pct value

HONG KONG (AFX-ASIA) - January retail sales rose 1.0 pct year-on-year to 18 bln hkd and were up 2.0 pct by volume, the Census and Statistics Department said. In December, retail sales rose 1.0 pct year-on-year to 16.7 bln hkd and were up 3.0 pct in volume terms. The government said that as a result of the Lunar New Year falling in January, after early February last year, more significant year-on-year increases in retail sales in some outlet types were observed. By component, sales of footwear, allied products and other clothing accessories increased the most, gaining 24 pct in volume terms in January. Supermarket sales rose 13 pct, food, alcoholic drinks and tobacco 13 pct, wearing apparel 10 pct, other consumer durable goods 6.0 pct and miscellaneous consumer goods 2.0 pct. Department store sales were virtually unchanged in volume. Sales of fuels fell 16 pct, furniture and fixtures were down 15 pct, with jewellery, watches and clocks, and valuable gifts off 12 pct and motor vehicles and parts down 1.0 pct. Based on the seasonally adjusted series, retail sales fell 3.0 pct in volume terms in the three months ending January compared with the preceding three-month period. A government spokesman noted that the year-on-year growth in the volume of total retail sales remained modest in January, with a mixed performance overall.

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