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Financial News: Hong Kong Retail Sales Growth Slows In November

Hong Kong Retail Sales Growth Slows In November

01/03/2022 - 07:28:00 (RTTNews)

(RTTNews) - Hong Kong's retail sales rose at a softer pace in November, figures from the Census and Statistics Department showed on Monday.

The retail sales volume rose 4.2 percent year-on-year in November, after a 9.4 percent growth in October.

The value of retail sales increased 7.1 percent annually in November, after a 12.1 percent gain in the preceding month.

Sales value of jewelry, watches and clocks, and valuable gifts surged 14.4 percent annually in November. Sales of clothing, footwear and allied products gained 16.6 percent and those of other consumer goods grew 18.4 percent.

Sales for fuels and consumer durable goods rose by 11.6 percent and 1.1 percent, respectively.

"Looking ahead, the spokesman pointed out that provided that the local epidemic situation remains under control, the improving economic and labor market conditions should continue to provide support to the retail sector," a government spokesman said.

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