Hong Kong continued to record a sustained upbeat consumer sentiment in March, with its total retail sales value growing 20 percent year on year to 22.6 billion HK dollars (about 2.9 billion U.S. dollars), revealed the Census and Statistics Department Tuesday.
According to the Census and Statistics Department's latest statistics, the total retail sales volume also rose 13 percent from the same period of last year.
Looking forward, the department expected the firm labor market conditions, rising income, and further growth in inbound tourism to continue providing support to the retail trade.
But the department said the society need to stay alert to the impact of the unfolding global financial turbulence and the U.S. economic slowdown on the economy and consumer sentiment.
Rolling out the latest retail sales figures here Tuesday, the department said total retail sales rose 17.5 percent in value and 11.6 percent in volume in this year's first quarter.
Analyzed by type of retail outlet, the sales volume of motor vehicles and parts led the growth by surging 29 percent, followed by sales of electrical goods and photographic equipment with a 22.1 percent upsurge.
Apparel, furniture and fixtures, miscellaneous consumer goods, footwear, jewelry, watches and clocks and other valuable gifts also saw a double-digit growth in sales ranging from 19 percent to10.7 percent.
Source:Xinhua
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