The value of retail sales in Hong Kong rose 8.5 percent over a year earlier to 17 billion HK dollars (2.18 billion US dollars) in April, the Census & Statistics Department said Tuesday.

After netting out the effect of price changes over the same period, the overall volume of retail sales rose 7.8 percent, the department said.

The distinct growth recorded in April showed the strong momentum in consumer demand has been sustained by improving labor market conditions and a generally optimistic economic outlook, the department said. As the economic recovery proceeds and broadens further in scope, improved income should render continued support to consumer spending.

The revised estimate of the value of total retail sales in March was 16.5 billion HK dollars (2.12 billion US dollars), up 6. 2 percent in value or 5.2 percent in volume over a year earlier. Taking the first four months of the year together, retail sales rose 8.5 percent in value or 7.6 percent in volume over the same period a year earlier.

Increases were recorded in sales in all major types of outlets in April. Analyzed by type of retail outlet and comparing April 2005 with April 2004, sales of jewelry, watches and clocks, and valuable gifts increased the most, by 15.5 percent in volume.

Based on the seasonally adjusted series, the overall volume of retail sales rose 5.7 percent in the three months ending April 2005 compared with the preceding three-month period.

Source: Xinhua