In August, retail sales rose 20.7% over the same month last year. The print was below both the 22.4% expansion in July and market analysts' expectations, which had retail sales expanding a stronger 23.7%. The reading reflected slower growth in sales across all main categories, with the exception of food sales, which rebounded from last month's drop. In seasonally adjusted terms, retail sales rose 3.5% in the three-month period ending in August compared to the previous period ending in May, which was below the 5.3% increase recorded in July. A government spokesman stated that domestic demand as well as robust tourist spending would continue to buttress consumption. The government expects GDP to expand 5.0%-6.0% this year, owing to strong economic activity.
Hong Kong Retail
Retail sales decelerate but remain strong
October 3, 2011
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Hong Kong Economic News
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.
August 29, 2016
Although tourist visitors increased for the first time in July after 13 months of successive drops, the effect on retail sales appears to have been limited.