Q2 retail sales register 12 percent drop from previous quarter

The value of retail sales in the second quarter of 2017 rose by more than 10 percent year-on-year to MOP14.48 billion, the Statistics and Census Service (DSEC) noted in a statement published yesterday, but registered a sharp fall of 12.2 percent from the first quarter of this year.

Meanwhile, the value of retail sales for the first half of this year came in at just under MOP31 billion, up by 10.8 percent year-on-year.

Watches, clocks and jewelry accounted for about 22 percent of the total value of retails sales, followed by good in departments stores (14.8 percent), adults’ clothing (12.1 percent), leather goods (12 percent) and goods in supermarkets (7.3 percent).

Starting from this second quarter of 2017, DSEC will now use a new retail sales volume index rebased to the period between April 2015 and March 2016.

After adjusting for price changes, the volume of retail sales rose by 10.5 percent year-on-year in the second quarter. Volume of retail sales for the first half of 2017 increased by 10.7 percent year-on-year.

DSEC also shared their accumulation of retailers’ comments and outlook for the next quarter, between July and September 2017. Some 53.2 percent of surveyed retailers anticipate a year-on-
year decrease in sales volume in the third quarter, while just under 40 percent expect the volume to remain steady. Only 7 percent forecast an increase.

Meanwhile, about 68 percent of the surveyed retailers expect the retail prices to stay stable year-on-year in the third quarter. Some 27.8 percent expect a decrease and just 4 percent predict an increase.