Hong Kong January retail sales rise 5.5% on sustained recovery momentum
A general view of K11 MUSEA, a shopping mall in Tsim Sha Tsui, Hong Kong, China April 29, 2024. REUTERS/Tyrone Siu
HONG KONG, March 4 : Hong Kong's retail sales in January rose 5.5 per cent by value from a year earlier for a ninth month of gains, government data showed on Wednesday, as the momentum of economic recovery continued in the new year.
Sales increased to HK$37.3 billion ($4.77 billion). In December, retail sales rose 6.6 per cent year-on-year.
In volume terms, January retail sales increased 3.4 per cent from a year earlier, compared with a rise of 5.1 per cent in December.
"Looking ahead, the robust economic growth momentum and the sustained growth in inbound visitors will continue to underpin local consumption, thereby benefiting retail businesses," a government spokesperson said.
Visitor arrivals in January increased to 4.81 million, up 1.5 per cent from a year earlier, data from the Hong Kong Tourism Board showed.
Sales of jewellery, watches, clocks and valuable gifts jumped 31.1 per cent in January on the year, after a rise of 14.3 per cent in December.
Sales of clothing, footwear and allied products fell 19.9 per cent year-on-year in January following a 10.3 per cent drop in December.
($1=7.8164 Hong Kong dollars)
