Hong Kong retail sales grew fast in the fourth quarter of 2004 and the volume in December rose 8.7 percent over last December's at 18 billion HK dollars (2.31 billion US dollars), according to a local government report on Monday.
The Census and Statistics Department said the growth reflected strong consumer demand as the economic recovery became more and more established and as labor market conditions improved in tandem.
The Department said that the buoyancy in inbound tourism also contributed, with broad-based rises in retail business of most major types of retail outlets.
Retail sales of consumer durable items like motor cars as well as electrical goods and photographic equipment continued to record double-digit growth as in the past few quarters, a manifestation of upbeat consumer sentiment.
Analyzed by type of retail outlet, sales of electrical goods and photographic equipment rose 18.4 percent in volume, which was followed by sales of motor vehicles and parts (16.9 percent), miscellaneous consumer durable goods (14.5 percent), commodities in supermarkets (8.7 percent), commodities in department stores (8.6 percent), miscellaneous consumer goods (8.2 percent), footwear, allied products and other clothing accessories (8.1 percent), wearing apparel (7.0 percent), jewelry, watches and clocks, and valuable gifts (5.3 percent), and food, alcoholic drinks and tobacco (0.5 percent).
Furniture and fixtures sales, however, fell 9.3 percent and fuels by 4.7 percent.
Source: Xinhua