Hong Kong retail sales in November leap 7.5 per cent
Hong Kong retail sales in November lept 7.5 per cent, the biggest monthly rise in at least three years.
Census and Statistics Department (C&SD) data also showed a revised estimate of 3.9 per cent growth in October, fuelling a year-to-date increase of 1.8 per cent against 2016.
The total volume of retail sales in November, after adjustment for inflation, showed an increase of 6.9 per cent year-on-year.
A government spokesman described November’s figures as “appreciable year-on-year growth” reflecting rising numbers of visitors and “sanguine consumer sentiment” during the month.
“The near-term outlook for retail sales remains positive, as consumer sentiment is buttressed by the favourable employment and income situation, and as inbound tourism continues to recover.”
While jewellery and watch sales led the overall increase, rising 7.9 per cent, not a single retail category showed a decline in November. Cosmetics and medicine sales rose by 12.5 per cent, department store sales by 5.7 per cent, apparel by 3.5 per cent and footwear and accessories by 5.6 per cent. Sales of electrical goods and cameras were up 9.8 per cent.