Hong Kong retail sales rise 13.7 percent in August
Retail sales have increased at their slowest pace in five months in a rising trend that started last December. The value of total retail sales in August came in at HK$32.4 billion – up 13.7 percent from a year ago. A government spokesman said sales continued to register visible year-on-year growth in August, thanks to a further increase in visitor numbers. The spokesman added that the retail sector will continue to benefit from the recovery of inbound tourism in the near term. "Positive consumer sentiment amid improved labour market conditions and the 'Night Vibes Hong Kong' Campaign, which features a variety of activities and consumption offers, should also provide support," he said. Sales of jewellery, watches and clocks, as well as valuable gifts surged by a year-on-year 57.2 percent in August, followed by clothing and footwear which saw sales rise by 37.1 percent. For the first eight months of this year, the value of total retail sales increased by 19.3 percent compared with the same period in 2022.