June Retail Sales Fall 6.7%

The value of total retail sales in June, provisionally estimated at $35.2 billion, dropped 6.7% 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 7.6% year-on-year.

The value of jewellery sales, watches and clocks, and valuable gifts fell17.1%, followed by sales of medicines and cosmetics (-4.1% in value); wearing apparel (-8.2%); commodities in department stores (-6%); food, alcoholic drinks and tobacco (-1.3%); electrical goods and other consumer durable goods, not elsewhere classified (-16.1%); motor vehicles and parts (-9.1%); footwear, allied products and other clothing accessories (-1.4%); books, newspapers, stationery and gifts (-4.5%); Chinese drugs and herbs (-0.1%); and optical shops (-11.9%).

The sales value of commodities in supermarkets went up 1.6%.

This was followed by sales of other consumer goods, not elsewhere classified (+0.3% in value); fuels (+1.9%); and furniture and fixtures (+1.1%).

The Government said retail sales registered an enlarged decline in June as local consumer sentiment turned more cautious and growth in visitor arrivals moderated.

It also said the near-term performance of retail sales will likely remain subdued, as the weakened global and local economic outlook and other headwinds continue to weigh on consumption sentiment.

The recent mass demonstrations, if continued, would also dent the retail business further, the Government added.