In September, the volume of retail sales rose 15.8% over the same month last year. The figure was above the revised 14.9% increase recorded in August (previously reported +14.7% year-on-year) and overshot market expectations that had seen retail sales expanding 13.5%. The monthly expansion was broad-based. That said, the main drivers behind the resilient growth were sales of consumer durable goods which increased by 27.2% year-on-year, as well as jewellery, watches and valuable gifts, which rose 25.4% yoy. Seasonally adjusted figures corroborate the strong growth suggested by the annual data, as retail sales increased 5.5% in the three-month period ending in September, compared to the period ending in June. Moreover, the trend continues to point up, as annual average growth in retail sales increased from 12.6% in August to 13.8% in September. A government spokesman stated that looking ahead, positive developments in jobs and income prospects, together with robust inbound tourism should continue to render support to retail business in the near term.
Hong Kong Retail
Retail sales accelerate in September
November 1, 2010
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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.