Hong Kong retail sales up 7.8 pct in July

Source: Xinhua | 2018-08-31

The value of total retail sales in July rose 7.8 percent over the same period last year to 38.9 billion Hong Kong dollars (4.99 billion U.S. dollars), statistics showed on Thursday.

The revised estimate of the value of total retail sales in June climbed 11.9 percent over a year earlier, according to the Census and Statistics Department of the government of China's Hong Kong Special Administrative Region.

After netting out the effect of price changes over the same period, the volume of total retail sales in July rose 5.9 percent over a year earlier.

For the first seven months taken together, the value of total retail sales expanded 12.6 percent over the same period last year.

Analyzed by broad type of retail outlet, the value of sales of jewellery, watches and clocks and valuable gifts rose the most by 16.8 percent. On the other hand, the value of sales of books, newspapers, stationery and gifts shrank 1.4 percent in July compared with a year earlier.

A government spokesman said retail sales grew visibly over a year earlier in July thanks to solid demand from local consumers as well as visitors, though the growth was at a decelerated pace.