In March, retail sales rose 20.0% over the same month last year. The print was well above the subdued 5.0% expansion in February, owing to the Lunar New Year seasonality, and also exceeded market analyst expectations, which had retail sales expanding 13.5%. The monthly expansion showed resilient growth in sales of consumer durable goods as well as jewellery, watches and valuable gifts, while sales of food dropped. In seasonally adjusted terms, retail sales increased 3.7% in the three-month period ending in March compared to the previous period ending in December, which is a full percentage point above the 2.7% increase recorded in February and confirmed the resilience of consumer demand. A government spokesman stated that improving job conditions and robust tourism spending will continue to buttress consumption.
Hong Kong Retail
Retail sales beat expectations in March
May 3, 2011
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Hong Kong Economic News
October 20, 2016
Inflation came in at 2.7% in September, which was markedly below August’s 4.3%—the largest reading in 17 months.
October 5, 2016
The Nikkei Hong Kong Purchasing Managers’ Index (PMI) released by IHS Markit rose from August’s 49.0 to 49.3 in September.
September 30, 2016
Hopes last month that a recovery in retail sales might be underway were dampened in August on the back of declining numbers of mainland tourists.
September 22, 2016
Inflation came in at 4.3% in August, which was notably above July’s 2.3%.
September 5, 2016
The Nikkei Hong Kong Purchasing Managers’ Index (PMI) released by IHS Markit climbed from July’s 47.2 to 49.0 in August.