XN000022-1995-04-25 — Page 12

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Taking the first two months of 1995 together, total retail sales rose by 8% in value and 1% in volume over the same period last year.

"These figures suggest that the growth in retail sales in the first two months of this year has moderated further from the latter part of last year. Nevertheless, the year-on-year growth rate is affected by a high base of comparison in the first two months of 1994, with the growth rate at that time reaching 12%," a Government spokesman said.

The moderate increase in total retail sales in the first two months of 1995 was partly attributable to a decline in the sales of motor vehicles, by 3% in value and 13% in volume.

Sales of food, alcoholic drinks and tobacco also fell by 5% in volume, although there was an increase of 3% in value.

Nevertheless, sales of a number of commodity items continued to show increases of various magnitudes, and in some cases, a notable increase was recorded.

Sales of jewellery, watches and clocks and valuable gifts went up by 14% both in value and in volume. Sales of clothing and footwear rose by 14% in value and 3% in volume.

Sales of fuels increased by 10% in value and 2% in volume. Those of consumer durable goods (other than motor vehicles) recorded an increase of 6% in value and 2% 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 January 1995 and the provisional figure for February 1995.

Table 2 shows the value and volume indices of retail sales in January and February 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 February 1995 results with those for January 1995 and those for February 1994, as well as comparisons of retail sales in the period from January to February of 1995 with the same period in 1994 are also

given.