FOREX TradingCharts.com

Financial News: Hong Kong Retail Sales Surge 7.0%, Biggest Rise

Hong Kong Retail Sales Surge 7.0%, Biggest Rise In 9 Months

03/02/2023 - 08:00:00 (RTTNews)

(RTTNews) - Hong Kong's retail sales value grew at the fastest pace in nine months in January, underpinned by an improved consumer sentiment along with the impact of the early arrival of the Lunar New Year, preliminary data from the Census and Statistics Department showed Thursday.

The value of retail sales rose sharply by 7.0 percent year-on-year following a 1.2 percent rebound in December.

Meanwhile, online sales, which accounted for 8.2 percent of the total sales value in January, dropped 4.2 percent from last year versus a 12.8 percent surge in the previous month.

The retail sales volume gained 5.1 percent annually in January, reversing a 0.6 percent fall seen in the final month of 2022. This was the first increase in three months.

Sales of jewellery, watches and clocks, and valuable gifts grew the most, by 23.1 percent, and those of clothing, footwear and allied products were 14.7 percent higher compared to last year. Sales of other consumer goods alone rose 11.4 percent.

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

Looking ahead, a government spokesman pointed out that the continued return of economic activities to normalcy and further rebound in the number of visitor arrivals will benefit the retail sector.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2023 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Denmark Economic Sentiment Rises Further (02 min(s), 45 sec(s) ago)
(RTTNews) - Denmark's economic sentiment rose for a third month in a row in March, figures fro ...Full Story»

U.S. Durable Goods Orders Unexpectedly Slump As Aircraft Demand Extends Nosedive (34 min(s), 45 sec(s) ago)
(RTTNews) - Reflecting a continued slump in orders for transportation equipment, the Commerce Depa ...Full Story»

Spain Q4 GDP Growth Unrevised At 0.2% (29 min(s), 45 sec(s) ago)
(RTTNews) - Spain's economy expanded at a stable pace as initially estimated in the final quar ...Full Story»

Czech Economic Sentiment Rises To 93.9, Highest In 7 Months (20 min(s), 45 sec(s) ago)
(RTTNews) - The Czech economic confidence index improved to its highest level in seven months, whi ...Full Story»

UK Private Sector Logs Strong Growth In March (02 min(s), 45 sec(s) ago)
(RTTNews) - The UK private sector registered another increase in activity in March, reflecting rob ...Full Story»

U.S. Durable Goods Orders Unexpectedly Slump 1.0% In February (01 min(s), 45 sec(s) ago)
(RTTNews) - Reflecting a continued slump in orders for transportation equipment, the Commerce Depa ...Full Story»

Eurozone Services Activity Lifts Private Sector Growth To 10-Month High (07 min(s), 45 sec(s) ago)
(RTTNews) - Eurozone private sector logged the strongest growth in ten months in March underpinned ...Full Story»

Sweden Producer Price Inflation Eases On Lower Energy Costs (05 min(s), 45 sec(s) ago)
(RTTNews) - Sweden's producer price inflation eased for the third straight month in February t ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Denmark Economic Sentiment Rises Further

03/24/2023 - 12:38 PM (RTTNews)
(RTTNews) - Denmark's economic sentiment rose for a third month in a row in March, figures fro ...Full Story>>

U.S. Durable Goods Orders Unexpectedly Slump As Aircraft Demand Extends Nosedive

03/24/2023 - 10:10 AM (RTTNews)
(RTTNews) - Reflecting a continued slump in orders for transportation equipment, the Commerce Depa ...Full Story>>

Spain Q4 GDP Growth Unrevised At 0.2%

03/24/2023 - 10:05 AM (RTTNews)
(RTTNews) - Spain's economy expanded at a stable pace as initially estimated in the final quar ...Full Story>>

Czech Economic Sentiment Rises To 93.9, Highest In 7 Months

03/24/2023 - 08:56 AM (RTTNews)
(RTTNews) - The Czech economic confidence index improved to its highest level in seven months, whi ...Full Story>>

UK Private Sector Logs Strong Growth In March

03/24/2023 - 08:38 AM (RTTNews)
(RTTNews) - The UK private sector registered another increase in activity in March, reflecting rob ...Full Story>>

Do not sell my personal information

Copyright © 2023. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.