February 1, 2018 / 8:43 AM / 10 months ago

Hong Kong December retail sales rise 5.8 pct yr/yr

    Feb 1 (Reuters) - December retail sales data 
(percent change from a year earlier):

         2017                                
         Dec   Nov   Oct   Sept  Aug   July  June
 Value   5.8   7.6^  3.9   5.7   2.7   4.0   0.1
 Volume  4.3   7.0^  3.6   5.6   3.2   4.5   0.5
 
 ^ Revised

    CONTEXT:
    -- In the three months through December, the value of sales
rose by 2.7 percent, seasonally adjusted, from the preceding
three months.
    -- For 2017 as a whole, the value of total retail sales was
provisionally estimated at HK$446.1 billion ($57.04 billion),
increasing by 2.2 percent in value and 1.9 percent in volume
over 2016.

    
    COMMENTARY:
    A government spokesman indicated that retail sales increased
solidly in December 2017 over a year earlier, reflecting the
upbeat consumption sentiment amid favourable employment and
income conditions. The continued revival of inbound tourism also
helped. For 2017 as a whole, retail sales resumed modest growth,
having declined on an annual basis since 2014.
     The near-term outlook for the retail trade stays positive,
given the more sanguine economic situation and improving inbound
tourism. The Government will closely monitor the situation.


    LINK:
    -- To view the full details of retail sales data, see the 
Hong Kong government website at bit.ly/2nqFtXM
    ($1 = 7.8203 Hong Kong dollars)

 (Reporting by Twinnie Siu in HONG KONG; Editing by Sunil Nair)
  
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