Hong Kong: Retail sales growth eases in September
Retail sales expanded 10.0% year on year in September (August: +11.0% yoy). The result marked the worst reading since January. Double-digit growth in clothing and jewelry—linked to higher tourist arrivals, particularly from mainland China—continued to underpin retail sales growth in September, more than offsetting lower fuel sales.
Meanwhile, the trend improved, with the annual average growth of retail sales coming in at 12.8% in September, up from August’s 11.8% reading.