Retail Sales Value in Macao Surges 46 Pct in Q1 2008

Macao's value of total retail sales for the first quarter of 2008 was estimated at 4.55 billion patacas (569 million U.S. dollars), significantly rising by 46 percent year-on-year, according to the figures released Tuesday by Macao's Statistics and Census Service (DSEC).

The city saw marked increases in the sales of watches, clocks and jewelry, adults' clothing, goods in department stores, goods in supermarkets and motor vehicles in the period, as the figures showed.

However, the DSEC also found that some 35 percent of local retailers reported decreases in sales volume in the period, while 65 percent said their sales volume remained stable or increased.

As regards the business prospect for the second quarter of this year, about 72 percent expected the sales volume to increase or remain stable compared with the first quarter, while some 90 percent expected local retail prices to remain stable or rise. 

Source: CRIEnglish