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Provisional statistics of retail sales for June
According to the provisional figures released today (Thursday) by the Census and Statistics Department, the value of total retail sales in June 1995, estimated at $16.5 billion, increased by 4% when compared with June 1994. After discounting the effect of price changes over the period, total retail sales dropped by 2% in volume.
The slight decline in volume of total retail sales in June 1995 was mainly attributable to a significant drop in sales of motor vehicles, which fell by 34% in value and by 40% in volume. Sales of other consumer durable goods also went down by 6% in value and 10% in volume.
Sales of food, alcoholic drinks and tobacco and sales in department stores increased by 5% and 3% respectively in value, but decreased by 1% and 6% respectively in volume.
Nevertheless, there were increases in sales of other commodities, including miscellaneous consumer goods (15% in value, 10% in volume); clothing and footwear (15% in value, 4% in volume); fuels (11% in value, 5% in volume); and jewellery, watches and clocks and valuable gifts (4% in value, 2% in volume). Concurrently, sales in supermarkets rose by 12% in value and 4% in volume.
Compared with May 1995, total retail sales in June 1995 decreased by 3% in both value and volume. It should be borne in mind that this comparison may be affected by seasonal factors.
Comparing the period from January to June 1995 with the same period in 1994, total retail sales rose by 6% in value, but dropped by 1% in volume.
The volume of retail sales is derived from the value of retail sales after adjusting for price changes. The relevant components of the Consumer Price Index are used as deflators.
Table 1 presents the revised total retail sales figure for May 1995 and the provisional figure for June 1995.
Table 2 shows the value and volume indices of retail sales in May and June 1995 for all retail outlets and by type of retail outlet, with average retail sales from October 1989 to September 1990 taken as 100. Comparisons of the June 1995 results with those for May 1995 and those for June 1994, as well as comparisons of retail sales in the period from January to June 1995 with the same period in 1994 are also given.