Retail sales up 7.9pc in May

Hong Kong's retail sales have extended their growth for the 13th consecutive month, though the pace of increase slowed in May.

Figures released by the Census and Statistics Department on Thursday showed that total sales value was estimated at HK$33.8 billion, a rise of 7.9 percent year on year.

That compared with an 8.7 percent year-on-year growth in April.

For the first five months of the year taken together, sales were up 10.6 percent from a year ago.

Commenting on the figures, a government spokesperson said sales "continued to increase solidly" in May.

"Sales of most broad types of retail outlet registered growth," the spokesperson said in a statement.

"Looking ahead, the ongoing economic expansion and sustained growth in local labour earnings, together with continued increase in inbound visitors, should benefit the retail businesses.

"The government will closely monitor the potential implications of the evolving external uncertainties on the local consumption market."

By categories, sales of jewellery, watches and clocks, and valuable gifts rose the most in May, jumping 25.8 percent year on year.

On the other hand, sales of fuels declined the most, falling by 12.2 percent.

Edited by Edmond Fong ...