Hong Kong retail sales rose for the eighth month in a row in July

(Source: Bigstock.)

Hong Kong retail sales in July rose 16.5 per cent year on year thanks to increased visitor arrivals and positive consumption sentiment.

The Census and Statistics Department of Hong Kong said sales increased to HK$33 billion (US$4.21 billion), marking the eighth consecutive month of growth. That compared with a revised 19.5 per cent rise in June.

In volume terms, retail sales increased 14 per cent year-on-year in July, compared with a revised 17.4 per cent in June.

For the first seven months of this year, CSD estimates retail sales increased by 20.1 per cent year on year.

Meanwhile, 6.8 per cent of July’s retail sales were online, up by 1.4 per cent over July last year.

A government spokesman said the revival of inbound tourism should continue to benefit the retail sector in the coming months. “Improved labour market conditions and the government’s various measures to support consumption should also help.”

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