March 30, 2017 / 8:41 AM / 5 months ago

Hong Kong Feb retail sales fall 5.7 pct yr/yr

    March 30 (Reuters) - February retail sales data 
(percent change from a year earlier):
    
           2017           2016                                 
            Feb    Jan     Dec      Nov     Oct   Sep     Aug
 Value      -5.7  -1.0^    -2.9    -5.4^   -2.9   -4.0   -10.5
 Volume     -6.1   -1.4   -2.9^    -5.5^   -2.7   -3.8   -11.0
 
 ^ Revised

    CONTEXT:
    -- In the three months through February, the volume of sales
was down by 3.9 percent, seasonally adjusted, from the preceding
three months.


    COMMENTARY:
     A government spokesman indicated that the performance of
retail sales was still constrained by a lack of growth in
tourist spending despite a modest recovery in visitor arrivals
in recent months. Taking the first two months of 2017 together
to neutralise the distortions by the timing of the Lunar New
Year, the volume of retail sales declined by 3.6 percent
year-on-year, similar to that in the fourth quarter of 2016.
     Looking ahead, the performance of retail sales will depend
on the recovery pace of inbound tourism as well as whether
consumer sentiment will be affected by the various external
uncertainties. At present, local consumer sentiment remains well
underpinned by the prevailing favourable job and income
conditions. The government will continue to monitor the
situation closely.

    LINK:
    -- To view the full details of retail sales data, see the 
Hong Kong government website at: bit.ly/2nlFzOu
    
    

 (Reporting by Twinnie Siu in HONG KONG; Editing by Amrutha
Gayathri)
  

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