XN000022-1993-11-01 — Page 12

11

MONDAY, NOVEMBER 1, 1993

PROVISIONAL RESULTS OF RETAIL SALES

SURVEY FOR AUGUST RELEASED

AT

THE VALUE OF TOTAL RETAIL SALES IN AUGUST 1993, ESTIMATED $16.1 BILLION, INCREASED 11% WHEN COMPARED WITH AUGUST 1992, ACCORDING TO THE STATISTICS RELEASED TODAY (MONDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

AFTER DISCOUNTING THE EFFECT OF PRICE CHANGES OVER THE PERIOD, TOTAL RETAIL SALES ROSE BY 4% IN VOLUME TERMS.

WITHIN THE OVERALL INCREASE, THERE WAS A STRONG GROWTH IN SPENDING ON CLOTHING AND FOOTWEAR, AND A NOTABLE GROWTH IN FUELS.

BUT THIS WAS OFFSET TO A CONSIDERABLE EXTENT BY A DECLINE IN SPENDING ON MOTOR VEHICLES AND JEWELLERY AND WATCHES.

INCREASE

COMPARED WITH A YEAR AGO, 38% IN VALUE AND 27% IN

SALES OF CLOTHING AND FOOTWEAR REGISTERED THE LARGEST IN AUGUST 1993 VOLUME.

SALES OF FUELS WENT UP CONSIDERABLY BY 14% IN VALUE AND 9% IN VOLUME. SALES IN OTHER FOODSTUFF OUTLETS INCREASED 11% IN VALUE AND 5% IN VOLUME.

9% IN

INCREASES WERE ALSO RECORDED FOR SALES IN SUPERMARKETS, VALUE AND 1% IN VOLUME; AND SALES OF CONSUMER DURABLES OTHER THAN MOTOR VEHICLES AND PARTS, 4% IN VALUE AND 2% IN VOLUME.

ON THE OTHER HAND, SALES IN DEPARTMENT STORES DROPPED BY 1% VOLUME, DESPITE AN INCREASE OF 6% IN VALUE. SIMILARLY, SALES JEWELLERY AND WATCHES DECREASED BY 8% IN VOLUME, BUT ROSE SLIGHTLY 1% IN VALUE.

VOLUME.

SALES OF MOTOR VEHICLES DECREASED BY 12% IN VALUE AND

IN

OF

BY

19% IN

COMPARING THE PERIOD JANUARY TO AUGUST 1993 WITH THE SAME PERIOD IN 1992, TOTAL RETAIL SALES ROSE BY 13% IN VALUE AND 8% IN VOLUME.

COMPARED WITH JULY 1993, AND BEARING IN MIND THAT THIS COMPARISON MAY BE AFFECTED BY SEASONAL FACTORS, TOTAL RETAIL SALES IN AUGUST 1993 INCREASED 2% BOTH IN VALUE AND 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.

/THE REPORT