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Financial News: Hong Kong Retail Sales Rebound In April

Hong Kong Retail Sales Rebound In April

06/01/2022 - 07:56:00 (RTTNews)

(RTTNews) - Hong Kong's retail sales rose for the first time in three months in April, figures from the Census and Statistics Department showed on Wednesday.

The retail sales volume increased 8.1 percent year-on-year in April, after a 16.8 percent fall in March.

The value of retail sales grew 11.7 percent annually in April, after a 13.8 percent decline in the preceding month.

Both volume and value grew at the fastest rates since October.

Sales value of consumer durable gained 28.2 percent annually in April.

Sales of jewelry, watches and clocks, and valuable gifts increased 13.9 percent and those of other consumer goods rose 13.3 percent.

Sales for department stores, and clothing, footwear and allied products increased by 10.7 percent and 1.6 percent, respectively.

Sales of supermarkets rose 5.8 percent and those of food, alcoholic drinks and tobacco grew 4.0 percent.

A government spokesman attributed the latest rebound in retail sales to the receding local epidemic and the disbursement of the first batch of consumption vouchers.

The spokesman pointed out that the retail sector should continue to recover provided that the local epidemic situation remains stable.

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