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Hong Kong July retail sales rise 4 pct y/y
August 29, 2017 / 8:43 AM / 21 days ago

Hong Kong July retail sales rise 4 pct y/y

    Aug 29 (Reuters) - July retail sales data 
  (percent change from a year earlier):

         2017                                          
         July  June   May   April   March    Feb   Jan
 Value   4.0    0.1   0.4    0.1     3.0    -5.8   -1.0
 Volume  4.6   0.5^   0.6    -0.1    2.6    -6.2   -1.4
 
 ^ Revised

    CONTEXT:
    -- In the three months ended July, the volume of sales rose
by 1.3 percent, seasonally adjusted, from the preceding three
months.

    
    COMMENTARY:
    A government spokesman indicated that retail sales
accelerated visibly in July, marking the fastest year-on-year
growth since February 2015. The pick-up is sales was underpinned
by robust local demand and further improvement in inbound
tourism.
    Local consumer sentiment is expected to remain positive,
buoyed by favourable job and income conditions. Nonetheless, the
near-term performance of retail sales would also depend on
inbound tourism amid various external uncertainties. The
government will monitor the situation closely.

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

 (Reporting by Twinnie Siu in HONG KONG; Editing by Sherry
Jacob-Phillips)
  

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