Hong Kong: Retail sales growth moderates in June
July 31, 2015
In June, retail sales increased 4.4% over the same month last year, moderating from the 4.7% rise tallied in May. June’s reading was mainly the result of a stronger decline in sales of books as well as footwear and clothing accessories, which was more than offset by a significant increase in sales of electrical goods and photographic equipment.
A government spokesman noted that, “the near-term performance of retail sales is still subject to uncertainties, depending on inbound tourism growth and any spillover to consumption sentiment from the recent stock market volatility. Nevertheless, the stable job and income conditions should provide some support.”
Retail sales fell a seasonally-adjusted 4.4% in the three-month period ending in June compared to the three-month period ending in March.
Author: Eric Denis , Economist