HONG KONG: The value of total retail sales in Hong Kong fell 0.4 percent year-on-year in June to 37.0 billion HK dollars (about 4.8 billion U.S. dollars), after the 0.1 percent drop in May, the Census and Statistics Department said here the other day.
For the first half of 2015, the value of total retail sales decreased 1.6 percent compared with the same period in 2014.
The value of sales of jewelry, watches and clocks, and valuable gifts lost 10.4 percent in June from a year earlier, followed by the sales of books, newspapers, stationery and gifts 9.5 percent, fuels 5.6 percent, medicines and cosmetics 4.2 percent, Chinese drugs and herbs 4.2 percent and wearing apparel 3.8 percent.
On the other hand, the value of sales of electrical goods and photographic equipment increased 21.4 percent in June, followed by sales of motor vehicles and parts 6.2 percent; food, alcoholic drinks and tobacco 3.6 percent, and optical shops 0.4 percent.
A Hong Kong government spokesman said that looking ahead, the near-term performance of retail sales is still subject to uncertainties, depending on inbound tourism growth and any spillover to consumption sentiment from the recent stock market volatility.
Nevertheless, the stable job and income conditions should provide some support, the spokesman said.
