XN000022-1995-10-24 — Page 4

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Provisional statistics of retail sales for August released

According to the provisional figures released today (Tuesday) by the Census and Statistics Department, the value of total retail sales in August 1995, estimated at $18.2 billion, increased by 4% when compared with August 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 August 1995 continued to be attributable mainly to a considerable drop in sales of motor vehicles, by 13% in value or by 20% in volume.

Sales of jewellery, watches and clocks, and valuable gifts also went down by 1% in value and 4% in volume. Sales in department stores recorded virtually no change in value but a decrease of 7% in volume. Sales of consumer durable goods (other than motor vehicles) increased by 1% in value but decreased by 4% in volume.

Meanwhile, sales of clothing and footwear and fuels increased by 7% and 6% respectively in value, but showed virtually no change in volume.

Nevertheless, there were still increases in sales of miscellaneous consumer goods (11% in value and 6% in volume) and food, alcoholic drinks and tobacco (6% in value and 1% in volume). Sales in supermarkets also rose by 13% in value and 5% in volume.

Compared with July 1995 (but bearing in mind that this comparison may be affected by seasonal factors), total retail sales in August 1995 increased by 3% in both value and volume. Comparing the period from January to August 1995 with the same period in 1994, total retail sales rose by 5% 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

presents the revised total retail sales figure for July 1995 and the provisional figure for August 1995.

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