HK May retail sales rise 8.8pct y/y

May retail sales data (percent change from a year earlier):

                 May     April     March     February     January     December     Nov 

   Value:      8.8    11.4    17.1    15.6    14.9    23.5    23.4 

   Volume:     5.8     7.6    13.2    10.1     9.1    17.1    16.9

CONTEXT:

– In the three months through May, the volume of sales rose by 2.8 percent, seasonally adjusted, from the preceding three months.

– For a breakdown of May retail sales click on

COMMENTARY:

A government spokesman said retail sales recorded solid, albeit slower, growth in May over a year earlier. Despite a difficult external environment, local consumption demand and tourist spending were still fairly resilient. While job market conditions and inbound tourism would continue to support retail businesses, the adverse external environment amid the European debt crisis could weigh on consumer sentiment.

http://in.reuters.com/article/2012/07/03/hongkong-economy-retail-idINH9E8HF00E20120703

 

Category: Hong Kong