HK retail sales down 0.4% to HK$37bn in June

    Hong Kong's value of total retail sales in June, provisionally estimated at HK$37 billion, decreased by 0.4% compared with the same month in 2014. The revised estimate of the value of total retail sales in May edged down 0.1% compared with a year earlier. For the first half of 2015, the value of total retail sales dropped 1.6% compared with the same period in 2014, according to the Census and Statistics Department.
  After netting out the effect of price changes over the same period, the volume of total retail sales in June grew 4.4% over a year earlier. The revised estimate of the volume of total retail sales in May increased 4.7% over a year earlier. For the first half of 2015, total retail sales expanded 1.7% in volume compared with the same period in 2014.
  A government spokesman indicated that retail sales volume grew moderately further in June over a year earlier. The fall in the sales of jewellery, watches and clocks, and valuable gifts narrowed, while retail outlets selling certain consumer durable goods registered visible growth in sales. Looking ahead, the near-term performance of retail sales is still subject to uncertainties, depending on inbound tourism growth and any spillover to consumption sentiment from the recent stock market volatility. Nevertheless, the stable job and income conditions should provide some support. The Government will monitor closely how these factors, as well as the various uncertainties in the external environment, would affect the retail business going forward.