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Hong Kong retail sales rise 12 per cent in October

Hong Kong retail sales surged 12 per cent year on year in October as the economic recovery continued and the second round of electronic consumption vouchers boosted spending.

According to the Census and Statistics Department (C&SD), October’s rise followed a revised estimate of 7.4 per cent growth in September with sales for the first 10 months of this year up 8.5 per cent. 

Sales of electrical goods and some consumer durable goods witnessed “particularly remarkable increases” in October, a government spokesperson said, up by 52 per cent compared to the same month last year.

Sales of jewellery, watches and clocks were up by 23.1 per cnet, department store sales by 5.5 per cent, apparel by 10.1 per cent, medicines and cosmetics by 13.2 per cent, and footwear and accessories by 15.5 per cent. 

Online shopping accounted for an estimated 8 per cent of total sales value in October, and ran 29.4 per cent ahead of the same month last year. 

The spokesman said that as long as the epidemic remains under control in Hong Kong, the improving employment and income conditions alongside the Consumption Voucher Scheme should continue to support the retail sector in the near term. 

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