Hong Kong: Retail sales gain steam in July
Latest reading: Retail sales increased 2.4% on a year-on-year basis in July, following a 2.2% rise in the prior month.
Relative to the prior month’s figures, readings in July improved for fuel (-27.8% on a year-on-year basis vs -28.3% in June), supermarkets (-0.1% vs -0.8% in June) and jewelry, watches and valuables (+9.3% vs +7.4% in June). In contrast, readings worsened for food and alcoholic beverages (+1.3% vs +1.8% in June) and clothing and footwear (-2.1% vs +0.1% in June).