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Financial News: Hong Kong Retail Sales Growth Accelerates Markedly

Hong Kong Retail Sales Growth Accelerates Markedly

04/03/2018 - 05:48:00 (RTTNews)

(RTTNews) - Hong Kong's retail sales growth accelerated markedly in February, after easing in the previous two months, preliminary data from the Census and Statistics Department showed Tuesday.

The volume of retail sales jumped a price adjusted 28.2 percent year-on-year in February, following a revised 2.3 percent gain in January.

Similarly, the value of retail sales surged 29.8 percent after a 4.2 percent rise in the previous month.

During the first two months of the year, total retail sales volume grew 13.9 percent compared with the same period last year.

This double-digit growth was mainly due to favorable job and income conditions and a further pick-up in visitor arrivals.

In interpreting these figures, it should be noted that retail sales tend to show greater volatility in the first two months of a year due to the timing of the Lunar New Year, the agency said.

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