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Retail sales in Hong Kong surge.

A news wire report on Hong Kong retail sales in January 2006 characterized an 11.6 percent increase in sales over the same period a year ago as "surging." The total value of sales was us$2.74-billion. The report was provided by the China state news service Xinhuanet via a posting on its chinaview.cn website.

Xinhuanet attributed the information to the Hong Kong Census and Statistics Department (C&SD).

Clearly, a rise in retail sales of this magnitude demonstrates quite positive consumer sentiment. C&SD said that the figures ought to be adjusted for the fact that the Lunar New Year, a major holiday, fell in January 2006 but in February 2005. Even with the adjustment, retail sales were up 10.5 percent.

In terms of high performing product categories, sales of footwear, allied products and other clothing accessories increased 30.8 percent. Jewelry, watches, clocks and other valuable gifts fell 7.7 percent. Vehicle sales declined 2.1 percent.
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Publication:Market Asia Pacific
Article Type:Brief article
Geographic Code:9HONG
Date:Mar 1, 2006
Words:162
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