Clothing And Shoes Retail Sales In Hongkong Grew Year-On-Year In July

Hongkong census and Statistics Bureau (C&SD) released retail data in September 1st.

The total retail sales in July 2008 were initially estimated at $24 billion 200 million, an increase of 13.8% over the year.

After deducting the price fluctuation factors in the same period, the total retail sales in July 2008 were larger than that in the same period last year.

The total retail sales in June 2008 revised to about $22 billion 200 million, an increase of 11.7% over June 2007 and a 4.1% increase in total retail sales.

In the first 7 months of 2008, the total retail sales increased by 15.6% over the same period last year, and the number increased by 8.9% over the same period last year.

According to the retail category, the sales volume of furniture and fixed equipment (+8.6%), comprehensive consumer goods (+8.3%), department store merchandise sales (+8.0%), comprehensive durable consumer goods (+6.7%), clothing (+5.4%), and shoes, related products and other clothing (+3.3%) in July 2008 compared with July 2007, according to the retail category.

On the other hand, jewelry, watches and clocks and watches, high-end gifts retail sales fell 0.8%.

According to seasonal adjustment, the total retail sales decreased by 1.8% in the three months ending July 2008, compared with the previous three months.

In the outlook, consumer sentiment will continue to be affected by global economic instability and inactivity in the stock market.

2008 during the Olympic Games, people staying at home and reducing tourism in the mainland may also affect the sale of the mainland's retail market in August.

However, after the strong labour market and short term weakness, mainland tourism is expected to recover and retail industry will be supported.