Hong Kong retail gross sales stabilise

Authorities figures for Hong Kong retail gross sales in Might recommend the worst of the tumult seems to be over.

The whole worth of retail gross sales in Might 2015, provisionally estimated at HK$39 billion, edged down by zero.1 per cent in contrast with the identical month in 2014. The revised estimate of the worth of complete retail gross sales in April 2015 decreased by 2.1 per cent in contrast with a yr earlier.

For the primary 5 months of 2015, the worth of complete retail gross sales decreased by 1.eight per cent in contrast with the identical interval in 2014. As earlier reported, complete gross sales for the primary three months fell 2.three per cent.

Higher but: After netting out the impact of worth modifications over the identical interval, the quantity of complete retail gross sales in Might 2015 elevated by four.6 per cent over a yr earlier. And for the primary 5 months of 2015, complete retail gross sales elevated by 1.three per cent.

As anticipated, gross sales of jewelry, watches and clocks fell – by 14.9 per cent. Attire gross sales have been down simply 1.9 per cent.

Division retailer gross sales rose 7.6 per cent and electrical items and photographic gear by 14.6 per cent.

A authorities spokesman stated the figures confirmed relative enchancment in Might.

“However, the drag from the slowdown in vacationer spending remained notable, because the gross sales of jewelry, watches and clocks, and helpful presents continued to register a double-digit yr on yr decline.

“The near-term outlook for retail gross sales will nonetheless rely a lot on the efficiency of inbound tourism. But, the secure job and revenue circumstances ought to render some help to native shopper sentiment.”