Hong Kong: Retail sales gain steam in September
Latest reading: Retail sales increased 4.8% on a year-on-year basis in September, following a 3.4% increase in the prior month and marking a near two-year high.
Relative to the previous month’s figures, readings in September improved for supermarkets (-0.3% on a year-on-year basis vs -2.7% in August) and food and alcoholic beverages (+1.7% vs -5.1% in August). In contrast, readings worsened for fuel (-14.4% vs -11.5% in August), clothing and footwear (-7.2% vs +4.9% in August) and jewelry, watches and valuables (+4.9% vs +15.3% in August).