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Macau sees value of retail sales soar 21%

The value of retail sales in Macau rose 21 percent year on year to 5.07 billion patacas (US$642 million) in the fourth quarter last year, according to figures released by the city's Statistics and Census Service (DSEC).

Retail sales of watches, clocks and jewelry took the largest share with 22 percent, while goods in department stores accounted for 14 percent. Compared with the third quarter of last year, retail sales increased by 7 percent.

The total value of retail sales for 2008 was 18.99 billion patacas, up 34 percent on 2007, with a notable increase in the sales of watches, clocks and jewelry (65 percent), goods in department stores (45 percent), adults' clothing (38 percent) and goods in supermarkets (26 percent).

In the fourth quarter, about 58 percent of retailers reported a decrease in sales volume from the third quarter by two percentage points, while 42 percent reported stable or increased sales volume.

About 53 percent reported that retail prices were stable, 11 percent said prices rose while 36 percent reported a fall.

In the first quarter of 2009, about 47 percent expect sales volume to increase or remain stable. About 74 percent expect retail prices to remain stable or increase.


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