March retail sales hold up in contrast to sharp slide in February

Local | 3 May 2019 5:06 pm

Hong Kong's retail sales dipped by 0.2 percent year-on-year to a provisional HK$39.7 billion in March, amid the prevailing cautious consumer sentiment.

In contrast, retail sales fell sharply by 10.2 percent year-on-year in February, to HK$40.6 billion. And in January, retail sales increased by 7.0 percent on-year to HK$48.1 billion.

Retail sales in the first quarter also fell by 1.2 percent from the same period of last year, based on provisional estimates.

In March, sales of electrical goods and other consumer durable goods, suffered the worst, tumbling by 15.6 percent.

Sales of jewelry, watches and clocks, and valuable gifts dropped by 2.6 percent. Optical shop sales declined by 5.7 percent, the Census and Statistics Department said.

Sales in supermarkets ticked over by 3.3 percent on year.

In January and February, retail sales dropped by 1.2 percent, revised data show.

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