Hong Kong Retail

Hong Kong

Hong Kong: Retail sales beat expectations in October

November 30, 2010

In October, the volume of retail sales rose 19.6% over the same month last year. The figure was well above the 15.8% increase recorded in September and overshot market expectations that retail sales would expand 14.6%. While the monthly expansion was broad-based, the main drivers behind the resilient growth were sales of consumer durable goods, which increased 37.7% year-on-year; sales of jewellery, watches and valuable gifts rose 30.2% yoy. Seasonally-adjusted figures corroborate the strong growth suggested by the annual data. Retail sales increased 7.3% in the three-month period ending in October compared to the period ending in July. Moreover, the trend continues to point up, as annual average growth in retail sales increased from 13.8% in September to 14.7% in October. Looking ahead, a government spokesman was upbeat about the economy, anticipating improvements in jobs and income, together with robust levels of inbound tourism. These positive factors should continue to buttress consumption.

Sample Report

Looking for forecasts related to Retail in Hong Kong? Download a sample report now.


Hong Kong Economic News

More news

Search form