Hong Kong Retail Sales Growth Eases Unexpectedly
August 01 2018 - 1:12AM
RTTF2
Hong Kong's retail sales growth eased unexpectedly in June,
preliminary data from the Census and Statistics Department showed
Wednesday.
The value of retail sales advanced 12.0 percent year-over-year
in June, slower than the 12.9 percent spike in May. Meanwhile,
economists had expected the growth to improve slightly to 13.0
percent.
Similarly, the volume of retail sales increased 9.8 percent
annually in June, following a 11.5 percent climb in the previous
month. That was also below the expected increase of 12.0
percent.
The value of sales of jewelery, watches and clocks, and valuable
gifts grew the most by 27.8 percent annually in June. Sales of
commodities in department stores registered an increase of 1.1
percent.
"Looking ahead, favorable job and income conditions and buoyant
inbound tourism should continue to provide support to the retail
sector in the near term," a government spokesman said.
"Yet, we need to closely monitor how the heightened external
uncertainties might affect consumption sentiment going
forward."
US Dollar vs INR (FX:USDINR)
Forex Chart
From Apr 2024 to May 2024
US Dollar vs INR (FX:USDINR)
Forex Chart
From May 2023 to May 2024