Hong Kong: Retail sales growth accelerates in October
Retail sales increased 9.4% in year-on-year terms in October, which followed September’s 4.8% increase. October’s quicker expansion was largely driven by an improvement in clothing and footwear sales and spending at department stores. Meanwhile, jewelry, watches and valuables sales growth gained momentum, but food and fuel sales deteriorated in October.
The trend improved, with the annual average growth of retail sales coming in at plus 5.6% in October, up from September’s 4.1%.