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RAPAPORT... Hong Kong's Census and Statistics Department reported that the value of retail sales in June rose 14.7 percent year on year to a provisional estimate of $5.1 billion (HKD 39.91 billion). The volume of items sold during the month rose 13.4 percent. The volume of sales of jewelry, watches and clocks and valuable gifts increased by 43.7 percent, while the value of goods sold surged 42.5 percent to $1.38 billion (HKD 10.718 billion).
In contrast, the volume of items sold at department stores jumped 29.2 percent and in terms of revenue, sales jumped 28.3 percent to $508 million (HKD 3.94 billion). For the first six months of 2013, Hong Kong's retail sales have risen 15 percent year on year to $32.6 billion (HKD 252.88 billion) with revenue from jewelry, watches, clocks and other valuable gifts up 32.5 percent to $8.1 billion (HKD 63.11 million). In the government's analysis of the data, retail sales in June reflected buoyant inbound tourism as well as an upbeat local consumer sentiment. The statement concluded that strong retail performance should continue; however, the government said it would have to closely monitor how the still-unsteady external environment may affect the local economy and consumer sentiment down the road.
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