April 3, 2018 / 8:44 AM / 21 days ago

Hong Kong February retail sales jump 29.8 pct yr/yr

    April 3 (Reuters) - February retail sales data 
(percent change from a year earlier):
    
           2018          2017                      
            Feb    Jan   Dec   Nov   Oct   Sept  Aug
 Value      29.8   4.2^  5.8   7.6   3.9   5.7   2.7
 Volume     28.2   2.3^  4.3   7.0   3.6   5.6   3.2
 
 ^ Revised

    CONTEXT:
    -- For the first two months of 2018 taken together, it was
provisionally estimated that the value of total retail sales
increased by 15.7 percent over the same period in 2017, while
increased by 13.9 percent in volume terms. 
    -- In the three months through February, the value of total
sales rose by 4.9 percent, seasonally adjusted, from the
preceding three months.
    
    COMMENTARY:
    A government spokesman said the retail sales strengthened
visibly in the first two months of 2018, showing double-digit
growth in value terms over a year earlier, thanks to favourable
job and income conditions and a further pick-up in visitor
arrivals. Given the difference in timing of the Lunar New Year
holidays between last year and this year, analysing figures for
the first two months combined would help remove the distortions
and show the underlying trend.
     The outlook for retail sales should remain positive in the
near term, underpinned by upbeat local consumer sentiment amid a
full employment situation and by continued improvement in
inbound tourism.

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

 (Reporting by Twinnie Siu in HONG KONG; Editing by Gopakumar
Warrier)
  
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