Retail in Asia

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HK retail sales for Jan up 14.9pc from a year earlier

Hong Kong’s total retail sales in January 2012, provisionally estimated at HKD43.2 billion (USD5.57b), increased by 14.9 percent over a year earlier, data released by Hong Kong’s Census and Statistics Department shows.

After netting out the effect of price changes over the same period, the volume of total retail sales increased by 9.1 percent in January 2012 compared with a year earlier. The relevant components of the Consumer Price Index are used as deflators.

A Government spokesman noted that retail sales grew appreciably further in January 2012 over a year earlier, though at a less rapid pace than that seen in the past two years. In the light of the possible distortions brought about by the difference in timing of the Lunar New Year, which fell in late January this year but in early February last year, it would be more meaningful to analyse the retail sales figures for January and February combined for a clearer picture of the underlying trend.

The Census and Statistics Department also released the revised estimate of the value of total retail sales in December 2011, at HKD43.1b, increased by 23.5 percent over December 2010, while the volume of total retail sales increased by 17.1 percent.