Updated at 7.01pm: The value of Hong Kong's retail sales in April increased 9.4 per cent year on year to $18.6 billion, the latest figures from the Census and Statistics Department showed on Thursday. A government spokesman said the volume of retail sales increased 7.9 per cent, with the sales volume of motor vehicles and parts expanding 15 per cent - the strongest rise. But the sales volume of jewellery, watches and clocks, and some valuable gifts, decreased 4.2 per cent in April compared with a year earlier. Retail sales in the first quarter of this year increased 6.9 per cent in value and 5.4 per cent in volume over the same period last year. The spokesman pointed out the reasons for the increase of consumer spending. 'The strengthening was underpinned by improving employment incomes and better job opportunities, as well as by the positive wealth effect from the strong performance of the stock market in that month,' he explained. The spokesman said he was optimistic about local retail trade. 'Although the economic outlook is somewhat clouded by the range of uncertainties in the external environment and increased volatility in the financial markets, the improving employment incomes and further expansion of inbound tourism should continue to render support to local retail business,' the spokesman said. The retail sales figures cover consumer spending on goods - but not on services - and gauge short-term business performance for Hong Kong's retail sector. The figures include spending on goods by visitors in Hong Kong but not by Hong Kong residents abroad. Retail Sales Figures
