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Hong Kong May retail sales rise 18.4%, sixth month of growth

by Uma
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2023 07 03T084559Z 1 LYNXMPEJ6209E RTROPTP 4 CHINA HONG KONG LUXURY

Hong Kong May retail sales rise 18.4%, sixth month of growth

HONG KONG (Reuters) – Hong Kong’s May retail sales rose 18.4% from a year earlier thanks to the revival of inbound tourism and positive consumption sentiment, government data showed on Monday.

Sales increased to HK$34.5 billion ($4.40 billion), marking a sixth consecutive month of growth. That compared with a revised 14.9% rise in April.

In volume terms, retail sales increased 16.5% year-on-year in May. That compared with a revised 13.1% growth in April.

($1 = 7.8342 Hong Kong dollars)

 

(Reporting by Donny Kwok and Twinnie Siu; Editing by Philippa Fletcher)