HK Sees Moderate Growth in Retail Sale in December 2000The value of total retail sales of Hong Kong in December 2000 was estimated to increase by 1 percent to 16.7 billion HK dollars (US$2.14 billion), according to the Census and Statistics Department of Hong Kong Tuesday.After discounting the effect of price changes over the period, the volume of total retail sales increased by 3 percent, says the department when releasing the provisional figures on retail sales Tuesday. Analyzed by type of retail outlet and on a year-on-year comparison, sales of motor vehicles and parts increased the most, by 23 percent in volume, in December 2000. This was followed by footwear, allied products and other clothing accessories of 21 percent increase, and other consumer durable goods by 16 percent. Sales of miscellaneous consumer goods remained virtually unchanged in volume. On the other hand, sales of fuels decreased by 13 percent in volume, and sales of jewelry, watches and clocks, and valuable gifts by 7 percent. Sales of commodities in department stores also declined, albeit more moderately at 3 percent in volume. Based on the seasonally adjusted series, the volume of total retail sales decreased by 2 percent in the three months ending December 2000 compared with the preceding three-month period. For 2000 as a whole, total retail sales increased by 4 percent in value or 8 percent in volume over a year earlier. A government Secretariat spokesman noted that the volume of retail sales showed more moderate growth in the fourth quarter of 2000, having decelerated markedly from the robust increases earlier in the year. Yet for 2000 as a whole, retail business still rose distinctly, upon the overall economic recovery and strong growth in inbound tourism, the spokesman added. |
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