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The value of total retail sales in June 2008 Fake Watches. provisionally estimated at $22.2 billion Fake Watch. increased by 11.6% over a year earlier. After netting out the effect of price changes over the same period Replica Watch. the volume of total retail sales increased by 4.0% in June 2008 over a year earlier.

The revised estimate of the value of total retail sales in May 2008(Fake Piaget Watch). at $23.2 billion TAG Heuer Watches. increased by 13.0% over May 2007 Replica Longines Watch. while the volume of total retail sales increased by 5.6%.

Taking the first half of 2008 together Fake Gucci Watch. total retail sales increased by 15.9% in value or 9.3% in volume over the same period a year earlier.

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On the other hand(Fake Tag Heuer Watches). the volume of sales of motor vehicles and parts and that of commodities in supermarkets decreased by 10.5% and 1.3% respectively in June 2008 compared with a year earlier Replica . while the volume of sales of food Fake Richard Mille Watch. alcoholic drinks and tobacco remained almost unchanged.

Based on the seasonally adjusted series IWC Luxury Watches. the volume of total retail sales decreased by 1.7% in the second quarter of 2008 compared with the preceding quarter.

These retail sales statistics are primarily intended to measure the sales receipts in respect of goods sold by local retail establishments Replica Watches. for gauging the short-term business performance of the local retail sector. They cover consumer spending on goods but not on services.

Moreover Luxury Watches. they include spending on goods by visitors in Hong Kong but not by Hong Kong residents outside Hong Kong. Hence they should not be regarded as a comprehensive indicator of overall consumer spending. In this context Japan Rolex Luxury Watches. it may be noted that the share of consumer spending on services in overall consumer spending has been increasing over time.

Users interested in the trend of overall consumer spending should refer to the quarterly series of private consumption expenditure (PCE). which is a major component of the Gross Domestic Product. Compiled from a wide range of data sources(Replica Corum Watch). PCE covers consumer spending on both goods (including goods purchased from all channels) and services by Hong Kong residents whether domestically or abroad.

Commentary:
A Government spokesman said that retail sales expanded at a more moderate pace recently(Fake Audemars Piguet Watch). after a rather long period of exceptionally strong performance.

Looking forward(Longines Watches Replica). the slowing global economic growth Replica Chanel Watch. strains in the financial markets(Vacheron Constantin Luxury Watches). elevated inflationary pressure and international commodity prices Replica . and consolidation in local asset prices are all likely to put a drag on the local economy and hence influence consumer sentiments. Yet Blancpain Luxury Watches. the firm labour market conditions Replica Handbags(Parmigiani Replica Watches). together with further expansion of inbound tourism Replica Watches(Fake Ebel Watch). should continue to provide support to the retail trade.

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