Friday, October 31, 2014   

HK retail sales continue to slump in May
(07-03 16:52)

Hong Kong saw its retail sales totaled HK$39 billion in May, down 4.1 percent from a year ago, the Census and Statistics Department said today.
The department also revised the figure for April 2014, where the total retail sales fell 9.9 percent. For the first five months of the year, total retail sales dipped 0.2 percent in value over the same period a year earlier.
After netting out the effect of price changes over the same period, the volume of total retail sales in May 2014 decreased by 4.7 percent over a year earlier.
''The still favourable job and income conditions should provide some support to local consumer sentiment, but the near-term outlook of retail sales business will continue to be clouded by the base effects and the changing visitor spending pattern,'' a government spokesman said.
The value of sales of commodities in department stores gained 2.3 percent, followed wearing apparel (up 3.7 percent), commodities in supermarkets (up 6.4 percent), and medicines and cosmetics (up 8.0 percent).
Sales of jewellery, watches and clocks, and valuable gifts plunged 24.5 percent in May compared with a year ago. This was followed by sales of electrical goods and photographic equipment (down 14.3 percent), miscellaneous consumer durable goods (down 7.8 percent); and books, newspapers, stationery and gifts (down 1.3 percent).   
Other Business breaking news:
Hang Seng finishes higher (26 mins ago)
IAG airlines group logs improving Q3 profits (26 mins ago)
European stocks rally at open (1 hr ago)
Panasonic says half-year profit dives (1 hr 55 mins ago)
Nikkei soars to seven-year high (2 hrs 4 mins ago)
Japan Airlines H1 net profit slips (2 hrs 5 mins ago)
Sony says half-year loss balloons six-fold (2 hrs 6 mins ago)
RBS sets aside 400m pounds for forex probes (2 hrs 6 mins ago)
BoJ chief says at 'critical moment' for exiting deflation (2 hrs 7 mins ago)
BOJ expands monetary easing plan as economy slows (2 hrs 14 mins ago)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.