HONG KONG (Reuters) -Hong Kong’s retail sales rose for the 15th straight month in February boosted by continuing growth in tourism and consumption, official data showed on Wednesday.
Sales in February rose 1.9% from a year earlier to HK$33.8 billion ($4.32 billion), the Hong Kong government said. That compared with 0.9% growth in January, 7.8% rise in December and 15.9% jump in November.
“As handling capacity continues to recover and more mega events are staged, inbound tourism is expected to revive further and benefit the retail sector,” a government spokesman said.
The government’s initiatives in boosting consumption sentiment should also provide support, the spokesman added.
In terms of volume, retail sales increased 0.5% in February. That compared with January’s 1.2% fall, the first decline in volume terms since December 2022, when it slipped 0.6%. It grew 4.8% in December 2023 and was up 12.4% in November.
Hong Kong’s economy is expected to grow 2.5% to 3.5% this year after…
