May Retail Sales Fall 1.3%

The value of total retail sales in May, provisionally estimated at $40 billion, dipped 1.3% on the same month in 2018, the Census & Statistics Department announced today.

After netting out the effect of price changes over the same period, the volume of total retail sales decreased 1.7% year-on-year.

The sales value of jewellery, watches and clocks, and valuable gifts fell 2.7%, followed by sales of commodities in supermarkets (-0.8% in value); wearing apparel (-4.6%); electrical goods and other consumer durable goods, not elsewhere classified (-14.8%); motor vehicles and parts (-0.1%); fuels (-5.2%); furniture and fixtures (-1.3%); and optical shops (-11.3%).

The sales value of commodities in department stores went up 0.3%.

This was followed by sales of medicines and cosmetics (+1% in value); other consumer goods, not elsewhere classified (+8.5%); food, alcoholic drinks and tobacco (+3.1%); footwear, allied products and other clothing accessories (+1.6%); books, newspapers, stationery and gifts (+0.1%); and Chinese drugs and herbs (+0.7%).

The Government said the decline in retail sales in May is partly due to the late arrival of the Labour Day holidays on the Mainland this year, which led to a larger year-on-year rise in visitor arrivals.

It added that retail sales will likely be clouded by cautious consumption sentiment amid an uncertain global economic environment, but the expansion in tourism and stable labour market should continue to provide support.