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Hong Kong's April retail sales jump 9.4 percent
2006-06-01 04:01:04 THE ASSOCIATED PRESS

HONG KONG, Jun 1 (AP) -- Hong Kong's retail sales jumped 9.4 percent in April from a year earlier, buoyed by higher incomes, better job opportunities and strong stock market performance during that month, the government said Thursday.

Retail sales grew 9.4 percent to HK$18.6 billion (US$2.4 billion; €1.87 billion) in April, continuing March's 9 percent rise, the Census and Statistics Department said.

After adjusting for price changes, the volume of retail sales in April rose 7.9 percent from the same month last year.

The surge in sales was led by sales in cars and vehicle parts, which rose by 15 percent, the goverment said. Sales of department store goods rose 14.4 percent, while those for footwear and clothing rose 13 percent.

"The strengthening in consumer spending 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," the government said in a statement.

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