Hong Kong clothing retail sales grow 3.1% in Sept

07 Nov '13

2 min read

Clothing retail sales in Hong Kong showed an increase of 3.1 percent year-on-year in September 2013, according to the statistics released by the Census and Statistics Department (C&SD).

The value of overall retail sales, including apparel retail sales, in September is estimated at HK$ 35.8 billion, showing a rise of 5.1 percent year-on-year. In terms of volume, the total retail sales increased by 4.9 percent year-on-year during the month, the data showed.

The total retail sales rose by 8.1 percent year-on-year in value and 7.2 percent year-on-year by volume in August 2013, according to the revised estimate for the month released by the C&SD.

From January to September 2013, the total retail sales in Hong Kong increased by 12.5 percent in value and 11.9 percent in volume over the same period a year earlier.

However, based on a seasonally adjusted series, the volume of total retail sales decreased by 6.5 percent in the third quarter of 2013, when compared with the preceding quarter.

The total retail sales cover consumer spending on goods but not on services. Moreover, they include spending on goods by visitors in Hong Kong but not by Hong Kong residents outside Hong Kong.

Hong Kong Government spokesman said the growth in overall retail sales in September compared to a year earlier was due to stable consumer sentiment, and the retail business in the near term is expected to get support from continuing growth of inbound tourism.

Fibre2fashion News Desk - India