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RAPAPORT... Hong Kong's retail sales rose 14.5 percent year on year to $7 billion (HKD 54.599 billion) in January, according to the Census & Statistics Department. The volume of sales also rose 14.5 percent.
The government noted that retail sales tend to exhibit volatile movement in January and February due to the timing of the Lunar New Year festival. The Lunar New Year fell on January 31, 2014, whereas it was celebrated on February 10 one year ago. The value of jewelry, watches, clocks and other luxury goods surged 10.8 percent year on year to $1.5 billion (HKD 11.623 billion) in January. The volume of sales rose 18.5 percent. The value of jewelry, watches and other luxury items that sold just in department stores jumped 38.3 percent to $41 million (HKD 318 million).
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