HONG KONG: 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 (Apr 3).
Sales in February rose 1.9 per cent from a year earlier to HK$33.8 billion (US$4.32 billion), the Hong Kong government said. That compared with 0.9 per cent growth in January, 7.8 per cent rise in December and 15.9 per cent 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 per cent in February. That compared with January’s 1.2 per cent fall, the first decline in volume terms since December 2022, when it slipped 0.6 per cent. It grew 4.8 per cent in December 2023 and was up 12.4 per cent in…
