May 31, 2018 / 8:46 AM / 18 days ago

Hong Kong April retail sales rise 12.3 pct yr/yr

    May 31 (Reuters) - Hong Kong's retail sales totalled a
provisional HK$39.5 billion  ($5.03 billion) in April, up 12.3
percent in value from a year earlier and up 11.1 percent by
volume, figures from the Census and Statistics Department showed
on Thursday.

    April retail sales data 
(percent change from a year earlier):
    
          2018                             2017      
           April    March    Feb    Jan     Dec    Nov
 Value     12.3     11.5^   29.9    4.2     5.8    7.6
 Volume    11.1     10.1^   28.3    2.3     4.3    7.0
 
 ^ Revised
    
    The following are provisional percentage changes in the
value and volume by type of retail outlet:
    
    VALUE
                                 2018        2018
                                April   Jan-April
 Jewellery, clocks, watches,     24.6        22.5
 valuables                             
 Electrical good and others      17.7        20.3
 Medicines and cosmetics         17.9        17.1
 
    VOLUME 
                                 2018        2018
                                April   Jan-April
 Jewellery, clocks, watches,     21.9        18.2
 valuables                             
 Electrical good and others      22.7        24.7
 Medicines and cosmetics         17.7        17.5
 
    CONTEXT:
    -- In the three months through April, the volume of sales
was rose by 5.4 percent, seasonally adjusted, from the preceding
three months.

    COMMENTARY:
    A government spokesman said retail sales sustained
double-digit growth in April over a year earlier, underpinned by
strong local consumer spending as well as buoyant inbound
tourism. Different broad types of retail outlet registered
varying degrees of increase in the value of sales.
     Favourable job and income prospects and sustained growth in
inbound tourism should continue to support retail sales in the
near term, the spokesman added. 


    LINK:
    -- To view the full details of retail sales data, see the 
Hong Kong government website at bit.ly/2kE1qAQ
    

($1 = 7.8478 Hong Kong dollars)

 (Reporting by Twinnie Siu in HONG KONG; Editing by Sunil Nair)
  
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