The total value of retail sales in Hong Kong surged 11.6 percent on a year earlier to 21.2 billion Hong Kong dollars (about 2.74 billion U.S. dollars), Hong Kong Census and Statistics Department said Thursday.

The year-on-year growth in the overall volume of retail sales in January was to a certain extent attributable to the distortion caused by the timing of the Lunar New Year, which fell in January in 2006 but in February in 2005.

Yet the solid growth in retail sales volume on a seasonally adjusted basis, which rose 10.5 percent, suggests consumer sentiment has remained upbeat, the department said.

The revised estimate of the total retail sales value in December rose 6.8 percent on a year earlier to 19.3 billion Hong Kong dollars (about 2.49 billion U.S. dollars), while the volume rose 5.8 percent.

Analyzed by type of retail outlet, the volume of sales of footwear, allied products and other clothing accessories recorded the largest year-on-year increase, at 30.8 percent.

On the other hand, the volume of sales of jewelry, watches, clocks and valuable gifts fell 7.7 percent while that of motor vehicles and parts dipped 2.1 percent.

Based on the seasonally adjusted series, the volume of total retail sales grew 2.1 percent in the quarter ending January compared with the preceding quarter.

Source: Xinhua