Hong Kong's value of total retail sales down 2.2 pct in April

The value of Hong Kong's total retail sales fell 2.2 percent in April from a year ago to 38.0 billion HK dollars (about 4.9 billion U.S. dollars), Hong Kong's statistics department said here on Tuesday.

According to the data, the value of sales of jewelry, watches and clocks, and valuable gifts decreased by 19.5 percent year-on- year, whereas sales of fuels dropped 12.8 percent, Chinese drugs and herbs 7.7 percent, wearing apparel 5.9 percent and medicines and cosmetics 3.0 percent.

On the other hand, the value of sales of electrical goods and photographic equipment rose 8.6 percent, followed by sales of food, alcoholic drinks and tobacco 4.2 percent and books, newspapers, stationery and gifts 4.1 percent.

A spokesman for the special administrative region government said retail sales performance remained subdued in April, mainly dragged by the marked fall in the sales of jewelry, watches and clocks, and valuable gifts, largely reflecting weaker visitor spending on big-ticket items.

However, retail outlets selling certain consumer durable goods continued to register notable growth in sales and provided some buffer, mainly helped by the launch of certain smartphone models, the spokesman said.

The near-term retail sales performance will continue to hinge on inbound tourism growth, although the stable labor market conditions should render support to local consumer sentiment, the spokesman said. Endi