Retail sales fall by 8.7 percent in second quarter

The value of retail sales in the second quarter of 2016 amounted to MOP13.17 billion, down by 8.7 percent year-on-year and by 11.1 percent compared with the revised figure of MOP14.81 billion in the first quarter of 2016, the Statistics and Census Bureau (DSEC) announced yesterday.
DSEC observed a notable decrease in retail sales of Motor Vehicles (-51.6 percent) and Motorcycles, Parts & Accessories (-36 percent), due to the impact of the economic slowdown and to the increasing costs of car ownership. Also on the decline were retail sales of Communication Equipment (-29 percent), Watches, Clocks & Jewellery (-15.1 percent), Goods in Department Stores (-10.6 percent), Goods in Supermarkets (-7.2 percent), and Household Appliances (-7.2 percent).
However, sales of Adults’ Clothing and of Goods in Pharmacies recorded year-on-year increases, up by 19.8 percent and 3.4 percent, respectively.
The volume of retail sales decreased by 7.7 percent year-on-year in the second quarter. As many as 47.1 percent of retailers said they anticipate that the sales volume in the third quarter of 2016 will remain stable compared to the same period in 2015. Meanwhile, 46.3 percent foresee a decrease, and the remaining 6.6 percent expect an increase.  Staff reporter