XN000022-1996-02-26 — Page 4

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Provisional statistics of retail sales for 1995

According to the provisional figures released today (Monday) by the Census and Statistics Department, the value of total retail sales in December 1995, estimated at $20.3 billion, increased by 4% when compared with December 1994.

After discounting the effect of price changes over the period, total retail sales dropped by 1% in volume in December 1995.

For the year of 1995 as a whole, total retail sales rose by 5% in value but dropped by 1% in volume when compared with 1994. Compared to the respective increases of 12% in value and 6% in volume in 1994, this reflected a general slackening in consumer spending in 1995.

In December 1995, sales of motor vehicles continued to show a significant decline compared with a year earlier, by 47% in value and 50% in volume. Sales of other consumer durable goods, although having virtually no change in value, also recorded a decrease of 4% in volume.

Meanwhile, sales in supermarkets rose by 6% in value but dropped by 3% in volume. Sales of jewellery, watches and clocks and valuable gifts and those of fuels showed growth of 2% and 1% respectively in value, but respective decreases of 2% and 5% in volume.

Nevertheless, sales of clothing and footwear continued to increase notably, by 16% in value and 9% in volume. Increases were also registered for sales of miscellaneous consumer goods (13% in value and 8% in volume) and food, alcoholic drinks and tobacco (7% in value and 5% in volume). Concurrently, sales in department stores increased by 7% in value and 1% in volume.

Compared with November 1995, but bearing in mind that this comparison is affected by seasonal factors, total retail sales in December 1995 increased by 19% in value and 20% in volume.

For the year of 1995 as a whole, there was a slight decline in volume of total retail sales. This was however mainly attributable to the considerable drop in sales of motor vehicles, which fell by 29% in value and 35% in volume when compared with 1994.