AUG RETAIL SALES DIP 0.1%

The value of total retail sales in August, provisionally estimated at $28.6 billion, edged down by 0.1% compared with the same month in 2021, the Census & Statistics Department announced today.

After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales for the month dropped 2.9% year-on-year.

Of the total retail sales value in August, online sales accounted for 9.1%. Provisionally estimated at $2.6 billion, the value of online retail sales rose 21.3% compared with a year ago.

The value of sales of commodities in supermarkets decreased 1% in August over a year earlier. This was followed by sales of electrical goods and other consumer durable goods not elsewhere classified (-3%); commodities in department stores (-11.3%); wearing apparel (-7.4%); medicines and cosmetics (-0.2%); furniture and fixtures (-8.5%); books, newspapers, stationery and gifts (-17.4%); footwear, allied products and other clothing accessories (-12.7%); Chinese drugs and herbs (-3.4%); and optical shops (-8.7%).

On the other hand, the value of sales of jewellery, watches and clocks, and valuable gifts increased 4.3%, followed by sales of other consumer goods not elsewhere classified (+3.8%); food, alcoholic drinks and tobacco (+2.1%); motor vehicles and parts (+43.7%); and fuels (+7.2%).

The Government said the value of retail sales posted a marginal year-on-year decrease in August against a high base of comparison. On a seasonally adjusted month-to-month comparison, the value of retail sales continued to increase.

Looking ahead, the Government pointed out that the moderating local COVID-19 epidemic situation, improving labour market conditions and phase two of the Consumption Voucher Scheme will continue to support consumption sentiment and demand in the near term, but the increasingly tight financial conditions will pose constraints.

It is crucial for the community to work in unison with the Government to contain the epidemic so as to create greater room for the recovery of consumption-related activities, it added.

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