RTTNews - The value of retail sales in Macau rose 9% year-on-year in the first quarter, the Statistics and Census Service said. Retail sales increased to MOP4.97 billion in the first quarter from MOP4.55 billion in the previous year.
During the quarter, watches, clocks and jewelery, which had the largest share of 21% in retail sales, rose 25% from the first quarter of last year. Sales of goods in department stores, with a 15% share, climbed 49%, while sales of adult's clothing rose 22%.
However, sales of motor vehicles fell 35%, while retail sales of automotive fuel as also fuels for household use dropped 28% and 26% respectively in the first quarter.
Sequentially, the value of retail sales declined 2% in the first quarter.
During the first quarter, about 66% of retailers reported a decline in sales volume, while 34% reported that the sales volume remained stable or increased. At the same time, 51% said retail prices were stable, while 42% said prices decreased. Only 7% said retail prices had increased.
Looking ahead, about 46% of retailers expect sales volume to either increase or remain stable in the second quarter from the first quarter, while 54% expect sales to decline. Regarding retail prices, 72% expect the prices to remain stable, while 28% expect a decrease.
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