Hong Kong’s retail gross sales down 2.9 pct in March

Hong Kong’s worth of complete retail gross sales fell 2.9 % year-on-year to 38.four billion HK dollars ( about four.9 billion U.S. dollars) in March, 2015, the statistics division stated right here on Tuesday.

The worth of gross sales of jewellery, watches and clocks, and priceless presents misplaced 18.6 % in March from a yr in the past, adopted by gross sales of fuels 16.four %, footwear, allied merchandise and different clothes equipment 11.7 %, Chinese language medicine and herbs eight.four % and optical outlets 5.three %.

Then again, the worth of gross sales of meals, alcoholic drinks and tobacco rose four.zero %, adopted by gross sales of electrical items and photographic gear 2.eight %, and books, newspapers, stationery and presents 2.three %.

A authorities spokesman stated the efficiency of retail gross sales remained sluggish in March, with most forms of shops recording year-on-year declines in gross sales, conceivably reflecting the slowdown in inbound tourism.

The retail gross sales efficiency within the close to time period is more likely to be constrained by the weaker efficiency of inbound tourism, though the secure labor market circumstances ought to nonetheless render help to native shopper sentiment, the spokesman stated.