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Hong Kong December retail sales fall for 22nd straight month
February 3, 2017 / 8:41 AM / 10 months ago

Hong Kong December retail sales fall for 22nd straight month

Feb 3 (Reuters) - December retail sales data 
(percent change from a year earlier):
    
         2016                                            
          Dec    Nov     Oct    Sep     Aug    July  June
 Value   -2.9   -5.4^   -2.9    -4.0   -10.5   -7.7  -8.9
 Volume  -2.8   -5.5^   -2.7    -3.8   -11.0   -7.0  -7.9
 
 ^ Revised

    CONTEXT:
    -- For 2016 as a whole, total retail sales decreased by 8.1
percent in value and 7.1 percent in volume compared with 2015.
    -- In the three months through December, the volume of sales
rose by 2.6 percent, seasonally adjusted, from the preceding
three months.
    
    COMMENTARY:
    A government spokesman indicated that retail sales showed a
narrower year-on-year decline in December 2016, partly
reflecting the revival in visitor arrivals in that month.
Meanwhile, stable labour market conditions continued to help
support local consumer sentiment.
    Looking ahead, the near-term outlook for retail sales
business will still depend on whether the recent improvement in
inbound tourism could gain more traction and the extent to which
local consumer sentiment would be affected by various external
uncertainties. 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/2jK03hk
      

 (Reporting by Twinnie Siu in HONG KONG; Editing by Jacqueline
Wong)

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