In April, retail sales rose 21.9% over the same month last year. The print was above the strong 20.2% expansion in March and exceeded market analyst expectations, which had retail sales expanding 20.0%. The monthly expansion was driven by 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 5.9% in the three-month period ending in April compared to the previous period ending in January, which was above the 3.8% increase recorded in March and confirmed the resilience of consumer demand. A government spokesman stated that domestic demand as well as robust tourist spending will continue to buttress consumption. Moreover, the government expects GDP to expand 5.0%-6.0% this year, owing to strong economic activity.
Hong Kong Retail
Retail sales remain buoyant in April
May 31, 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.