March Retail Sales Dip 4.5%

The value of total retail sales in April, provisionally estimated at $37.7 billion, dipped 4.5% 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 5% year-on-year.

The sales value of jewellery, watches and clocks, and valuable gifts fell 11.4%, followed by sales of wearing apparel (-2.2% in value); medicines and cosmetics (-6%); commodities in department stores (-4.3%); electrical goods and other consumer durable goods, not elsewhere classified (-13.7%); motor vehicles and parts (-6.3%); footwear, allied products and other clothing accessories (-5.4%); furniture and fixtures (-0.4%); books, newspapers, stationery and gifts (-7.5%); Chinese drugs and herbs (-5.7%); and optical shops (-7.8%).

The sales value of commodities in supermarkets went up 1.1%.

This was followed by sales of other consumer goods, not elsewhere classified (+4.5% in value); food, alcoholic drinks and tobacco (+0.8%); and fuels (+3.3%).

The department said the larger year-on-year decrease of retail sales recorded in April reflected the still-cautious consumption sentiment amid external uncertainties, but was also partly due to the late arrival of the Labour Day holidays on the Mainland.

It added consumption sentiment will continue to be affected by external uncertainties in the near term, and the Government will closely monitor the situation.