Hong Kong’s total retail sales in September 2009 rose 2.4 percent by value and 1 percent by volume year-on-year – the first increase after falling for seven consecutive months.
The latest figures released by the Census and Statistics Department of Hong Kong showed that the total retail sales in September were HK$21.4 billion (US$2.8 billion).
The sales volume of fuels increased the most, by 11.6 percent, followed by electrical goods and photographic equipment, up 8.3 percent. Jewellery, watches and clocks and valuable gifts increased 2.7 percent.
A government spokesman attributed the overall retail sales increase to an improvement in local consumer spending and the revival in inbound tourism. “The improvement in the local consumption market in recent months was quite distinct both in terms of the return to year-on-year growth and also the sustained rise-back on a seasonally adjusted basis,” he added.
Commenting on the outlook for retail business in Hong Kong, the department said that “the gradual improvement of the local economy, the resilience of the labour market and the government’s relief measures should continue to render support to consumer confidence and hence the retail trade. The rebound in inbound tourism will also help”.
