In October, retail sales rose 15.0% over the same month last year. The print came in a touch below the 15.1% expansion seen in September but overshot market analysts' expectations, which had retail sales expanding a softer 12.0%. The reading marked the third consecutive deceleration as tourism from mainland slows, clouding the outlook for consumption. In seasonally adjusted terms, retail sales rose 1.2% in the three-month period ending in October compared to the previous period ending in July, which was less than half the 2.8% increase recorded in September. A government spokesman noted that retail sales continued to post double-digit growth, as domestic demand, as well as robust tourist spending, continues to buttress consumption.
Hong Kong Retail
Retail sales decelerate in October
December 1, 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.