Retail sales jump 15.9 percent in November
Hong Kong's retail sales rose nearly 16 percent year-on-year in November to the highest level in five months, official figures showed on Thursday. Provisional figures released by the Census and Statistics Department show the value of retail sales stood at HK$34.2 billion, up 15.9 percent year-on-year and marking the 12th consecutive month of growth. This was almost three times the 5.8 percent annual increase recorded in October. The volume of retail sales in November increased by 12.4 percent year-on-year. The figures show that jewellery, watches and clocks were most in demand, with sales up by over 60 percent. Sales of clothing rose by 54 percent, followed by cosmetics, which increased by almost 39 percent.  The biggest decline was in sales of cars and parts, which fell by almost 23 percent year-on-year. Taking the first 11 months of last year as a whole, retail sales rose by 17.1 percent.   Looking ahead, the authorities expect further recovery in inbound tourism, improvement in household income and various promotional campaigns to continue to provide a boost to the industry. However, industry leaders from the Hong Kong Retail Management Association have previously expressed concerns about Christmas spending and sales prospects, given the trend of Hongkongers heading to the mainland to shop.