Retail sales at Hong Kong increases by 1.1% in November 2008

Retail sales during November 2008 in Hong Kong amounted to $20.5 billion, increasing by 1.1 percent over the same period last year. If inflation is not accounted for, volume of total retail sales dropped by 2.8 percent in the month over November 2007. For the month of October 2008, revised estimate of value of total retail sales worked out to $20.8 billion, scaling up by 0.3 percent over the same month last year, and volume of total retail sales slipped down by 4.3 percent.

The country’s retail sales in the first 11 months of 2008, showed a sharp increase of 11.6 percent in value and 5.6 percent in volume, as compared to the same 11 months of last year. In view of seasonal adjustment, volume of total retail sales in the three months ending November 2008 slipped by 3.4 percent over the same period last year.

As per product categories, sales of footwear, allied products and clothing accessories dipped by 5.5 percent in volume, of jewellery, watches, clocks and such luxury items by 3.7 percent. Volume of sales of fuels increased the most, by 9.3 percent.