Hong Kong retail sales demonstrate the highest surge in almost 3 years

Hong Kong retail sales demonstrate the highest surge in almost 3 years

In November, Hong Kong's retail sales tacked on for the ninth month, thus demonstrating their best surge since February 2015. It was caused by firm consumer demand as well as improved tourism, especially from mainland China.

In value terms November retail sales headed north 7.5% from 2016 to HK$38.7 billion, as government data revealed on Wednesday. In October, retail sales edged up 3.9%.

In volume terms, sales gained 6.9% from 2016 versus 3.6% surge in October.

In November, tourist arrivals rallied 7%, which is the highest percentage surge since March, with mainland tourists adding 8.6%, as the Hong Kong Tourism Board informed. As for mainland tourists, they hit 74% of the total.

For the first 11 months of the previous year, total visitor arrivals edged up 3.1%.

Hong Kong's retail sales keep reviving after diving for the third consecutive year in 2016 and also by the most in almost two decades, affected by the city's economic downturn as well as fewer tourists from China.

Similar

Popular

Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera