March 2, 2018 / 8:42 AM / 3 months ago

Hong Kong Jan retail sales rise 4.1 pct y/y

    March 2 (Reuters) - Following is Hong Kong's retail sales
data for January.
(percent change from a year earlier):

           2018  2017                          
           Jan   Dec   Nov   Oct   Sept  Aug   July
 Value     4.1   5.8   7.6^  3.9   5.7   2.7   4.0
 Volume    2.2   4.3   7.0^  3.6   5.6   3.2   4.5
 
 ^ Revised

    CONTEXT:
    -- In the three months through January, the volume of sales 
rose by 2.5 percent, seasonally adjusted, from the preceding
three months.
    
    COMMENTARY:
    A government spokesman indicated that retail sales increased
moderately in January over a year earlier, notwithstanding the
drag on the year-on-year rate of change due to the difference in
timing of the Chinese New Year, which fell in mid-February this
year but late January last year. 
    This suggests that consumer sentiment has been rather robust
in the early months of 2018. Nevertheless, it would be more
useful to analyse the retail sales figures for January and
February combined, when available, to show more clearly the
underlying growth trend.
     Looking ahead, favourable job and income conditions and a
sustained recovery in inbound tourism should continue to render
solid support to retail businesses in the near term. 


    LINK:
    -- To view the details of retail sales data, see the 
Hong Kong government website: bit.ly/2Fj7hb6 
    
    

 (Reporting by Twinnie Siu in HONG KONG; Editing by Biju
Dwarakanath)
  
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