Hong Kong retail sales grew faster in September, driven by continued improvements in local demand and inbound tourism.
Retail sales rose 6.4 per cent to HK$33.4 billion (US$4.25 billion) in September, extending the revised 5.6 per cent increase in August. It also marked the 17th consecutive month of expansion in the special administrative region.
For the first nine months, retail sales were provisionally estimated to have increased 8.3 per cent compared with the same period last year.
A spokesperson from the Census and Statistics Department said the growth reflected solid local consumption sentiment, coupled with a pick-up in visitor arrivals and the earlier arrival of the Mid-Autumn Festival this year.
Higher sales were broad-based across many types of retail outlets. Jewellery, watches and valuable gifts saw the biggest sales increase of 20.3 per cent, followed by optical shops (14.6 per cent), apparel (11.1 per cent) and electrical goods (9.7 per cent).
On the other hand, sales slid 1 per cent at supermarkets and 4.1 per cent at department stores. Sales of fuels fell 3.1 per cent, and Chinese drugs and herbs slid 3 per cent. Motor vehicles and parts sales plunged 34.7 per cent.
Looking ahead, the spokesperson expects sustained economic expansion and growth in labour earnings to bolster local consumption.
A series of upcoming mega-events and festive celebrations, together with continued growth in inbound tourism, will inject additional momentum into the retail sector, they added.
