Macao's Statistics and Census Service placed the value of retail sales during the fourth quarter of 2011 at $1.57 billion (MOP 12.55 billion), reflecting a year-on-year increase of 44 percent, Rapaport reported.
Retail sales of watches, clocks and jewelry accounted for 30 percent of the total at about $477 million. Unit sales rose 30 percent year on year.
The value of retail sales for 2011 rose 42 percent year on year to $5.4 billion (MOP 43.34 billion), driven by a 58 percent jump in sales of jewelry, watches and clocks as well as a 54 percent surge in the sale of leather goods.
The government concluded that 65 percent of retailers anticipate first-quarter sales volume would remain stable or increase and 35 percent expect a decrease.
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