XN000022-1995-03-24 — Page 7

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Provisional statistics of retail sales January 1995

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The value of total retail sales in January 1995, estimated at $20.7 billion, increased by 14% when compared with January 1994. After discounting the effect of price changes over the period, total retail sales rose by 7% in volume in January 1995 over a year earlier.

The above provisional statistics of retail sales are released today (Friday) by the Census and Statistics Department.

The increase in total retail sales in January 1995 was mainly attributable to the notable growth in sales of clothing and footwear, and sales in supermarkets as the Lunar New Year approached. Sales of these two items increased by 29% and 21% respectively in value and their respective increases in volume terms were 16% and 12%.

It should be noted that these year-on-year growth rates were also affected by a relatively low comparison base in January 1994, as the Lunar New Year took place in February and not January in that year.

Sales of jewellery, watches and clocks and valuable gifts, and sales in department stores also increased considerably, both by 16% in value. In volume terms, they increased by 16% and 7% respectively.

Moderate increases were recorded for sales of consumer durable goods (other than motor vehicles) (by 12% in value and 8% in volume); and fuels (by 11% in value and 3% in volume).

Meanwhile, sales of food, alcoholic drinks and tobacco increased by 8% in value, but dropped by 3% in volume.

Sales of motor vehicles decreased by 16% in value and 25% in volume.

Compared with December 1994, but bearing in mind that this comparison may be affected by seasonal factors, total retail sales in January 1995 increased by 5% in value and 7% in volume.