XN000022-1995-06-26 — Page 14

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Provisional statistics of retail sales for April

According to provisional figures released today (Monday) by the Census and Statistics Department, the value of total retail sales in April 1995, estimated at $15.9 billion, increased by 5% when compared with April 1994. After discounting the effect of price changes over the period, total retail sales dropped by 2% in volume.

The slight decrease in total retail sales volume in April 1995 was mainly attributable to the decline in sales of motor vehicles, which dropped by 28% in value and by 36% in volume terms. After four successive months of large increases, sales of jewellery, watches and clocks and valuable gifts also fell in April, by 5% in value and 7% in volume.

However, it should be noted that the year-on-year growth rates of total retail sales in April 1995 were at least partly affected by the good performance of the trade in April 1994, with the growth rates at that time reaching 15% in value and 8% in volume.

On the other hand, increases were recorded in sales of clothing and footwear and sales in supermarkets in both value and volume terms. Sales of the former increased by 13% in value and 2% in volume. The respective increases in supermarkets were 8% in value and 1% in volume.

Meanwhile, sales of most other commodities recorded increases in value but virtually no change or slight decreases in volume. They included food, alcoholic drinks and tobacco (+10% in value, virtually no change in volume); fuels (+8% in value, -1% in volume); and department stores (+7% in value, -2% in volume).

Compared with March 1995, but bearing in mind that this comparison may be affected by seasonal factors, total retail sales in April 1995 decreased by 4% in value and 8% in volume.

Comparing the period from January to April 1995 with the same period in 1994, total retail sales rose by 6% in value, but showed virtually no change 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 March 1995 and the provisional figure for April 1995.