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Financial News: Hong Kong Retail Sales Accelerate In October

Hong Kong Retail Sales Accelerate In October

11/30/2021 - 06:12:00 (RTTNews)

(RTTNews) - Hong Kong's retail sales accelerated in October, figures from the Census and Statistics Department showed on Tuesday.

The retail sales volume rose 9.4 percent year-on-year in October, after a 4.9 percent growth in September.

The value of retail sales increased 12.0 percent annually in October, following 7.4 percent gain in the preceding month.

Sales value of jewelry, watches and clocks, and valuable gifts surged 23.1 percent annually in October. Sales of clothing, footwear and allied products gained 10.9 percent and those of consumer durable grew 12.3 percent.

Sales for other consumer goods and fuels rose by 12.3 percent and 7.5 percent, respectively.

"Looking ahead, the spokesman pointed out that as long as the local epidemic situation remains under control, the improving employment and income conditions alongside the Consumption Voucher Scheme should continue to support the retail sector in the near term," a government spokesman said.

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