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Content of the press release

The value of total retail sales in March 2000, estimated at $15.4 billion, increased by 9% over a year earlier. After discounting the effect of price changes, total retail sales rose markedly by 15% in volume. These are the provisional figures on retail sales released today (May 15) by the Census and Statistics Department.

The year-on-year increase in retail sales volume in March 2000 was across-the-board amongst almost all categories of consumer goods. Analysed by type of retail outlet and on a year-on-year comparison, sales of motor vehicles and parts recorded the largest increase, by 52% in volume. This was followed by sales of other consumer durable goods (by 47%); footwear, allied products and other clothing accessories (31%); wearing apparel (22%); commodities in supermarkets (not including supermarket sections of department stores) (19%); furniture and fixtures (19%); jewellery, watches and clocks, and valuable gifts (7%); commodities in department stores (3%); fuels (3%); and miscellaneous consumer goods (2%). Sales of food, alcoholic drinks and tobacco showed little change in volume over the same period.

For the first quarter of 2000 as a whole, total retail sales increased markedly by 14% in volume over a year earlier. On a seasonally adjusted basis, total retail sales rose by 9% in volume in the first quarter of 2000 over the fourth quarter of 1999.

Commentary

A Government Secretariat spokesman noted that the sharp increase in consumer spending in March was in line with the further pick-up in overall economic activity. This was the ninth consecutive month of positive volume growth since July 1999. In addition to the effect of a stronger consumer sentiment, the prevalence of price discounts at the retail outlets also helped to arouse demand.

Further information

The volume of retail sales is derived from the value of retail sales after adjusting for price changes. The relevant components of the Consumer Price Index are used as deflators.

Table 1 presents the revised total retail sales figure for February 2000 and the provisional figure for March 2000. The value and volume indices of retail sales in January, February and March 2000 for all retail outlets and by type of retail outlet are also shown, with average retail sales from October 1994 to September 1995 taken as 100.

Table 2 shows the movement of total retail sales volume in terms of the year-on-year rate of change for a month compared with the same month in the preceding year based on the original series, and in terms of the rate of change for a three-month period compared with the preceding three-month period based on the seasonally adjusted series.

The report containing the analysis of the March 2000 results is now on sale at $3.00 per copy at the Government Publications Centre, G/F, Low Block, Queensway Government Offices, 66 Queensway; and the Publications Unit of the Census and Statistics Department, 19/F, Wanchai Tower, 12 Harbour Road, Wan Chai. Regular subscription can also be arranged with the Publications Sales Section of the Information Services Department (Tel No : 2842 8844). Internet users may order the publication through the website of the Information Services Department (Address : http://www.info.gov.hk/isd/book_e.htm).

Enquiries about the survey results may be directed to the Distribution and Services Statistics Section (1)A of the Census and Statistics Department (Tel No : 2802 1258).

End/Monday, May 15, 2000

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