Hong Kong Feb retail sales jump 19.3%, seen support from visitor growth
April 1 - Hong Kong's retail sales by value jumped 19.3 per cent in February from a year earlier, the 10th month of gains, with sales by most broad types of retail outlet registering growth, government data showed on Wednesday.
* It was the biggest percentage rise since June 2023, when retail sales jumped 19.5 per cent
* Sales increased to HK$35 billion ($4.47 billion). In January, retail sales rose 5.5 per cent year-on-year.
* In volume terms, February retail sales surged 17.5 per cent from a year earlier, compared with a revised 3.5 per cent rise in January.
* It was the biggest percentage gain since March 2023, which saw a 39.3 per cent rise.
* "Looking ahead, the resilient growth momentum in the local economy and the vibrant increase in inbound visitors are expected to support retail businesses," a government spokesperson said.
* Visitor arrivals in February increased to 5.14 million, up 40.2 per cent y/y, data from the Hong Kong Tourism Board showed. The number of Chinese mainland visitors jumped 53.4 per cent y/y to 4.25 million.
* Sales of jewellery, watches, clocks and valuable gifts rose 24.2 per cent y/y in February after a rise of 31.1 per cent in January.
* Sales of clothing, footwear and allied products rose 14.1 per cent y/y in February following a 0.2 per cent rise in January.
($1 = 7.8385 Hong Kong dollars)
