Economy > Regional

​Hong Kong retail sales value up 5.9 pct in October

Xinhua Financein HONG KONG
2018-12-03 15:03

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The value of total retail sales in October rose 5.9 percent over the same period last year to 39.7 billion Hong Kong dollars (5.09 billion U.S. dollars), statistics showed Friday.

For the first ten months, the total retail sales increased 9.1 percent in volume over the same period in 2017, according to the Census and Statistics Department of the government of China's Hong Kong Special Administrative Region.

The sales of jewellery, watches and clocks, and valuable gifts climbed 3.3 percent in value. The sales of electrical goods and other consumer durable goods gained 16.1 percent in value.

On the other hand, the sales value of commodities in supermarkets shrank 0.9 percent, while that of food, alcoholic drinks and tobacco dropped 2 percent.

Growth in retail sales picked up somewhat in October after a deceleration in the preceding month, supported by the faster increase in visitor arrivals and continued income growth, a government spokesman said.

Looking forward, strong inbound tourism and favourable job and income conditions should continue to support the retail sector in the near term, the spokesman said.
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