Online Forex broker
In August, retail sales managed to add at a faster pace in Hong Kong in contrast with July. That’s what government data disclosed. However, the outlook is still overshadowed by external headwinds, including the impact of US-China trade clashes.
August retail sales leapt by 9.5% from 2017 in value terms hitting HK$38.2 billion, thus demonstrating their eighteenth month of expansion, in contrast with July’s 7.8% leap.
However, in volume terms, in August, retail sales soared by 8.1% in contrast with July’s 5.9% rally.
A government spokesman told that favorable job as well as income conditions, and also sustained surge in inbound tourism are expected to back the retail sector in the nearer future.
For the first eight months of this year, total retail sales tacked on by 12.2% in value terms as well as 10.6% in volume terms.
Market experts told that escalating China-US trade tension was impacting market sentiment, while a weaker Yuan also backed the Hong Kong dollar.
Surge in China's manufacturing sector decreased in September due to the fact that domestic and external demand receded.
Market experts actually expect China's surge to cool further in the nearer future, with a barrage of August economic reports doing little to debunk views that domestic demand is decreasing.
In August, China’s retail sales jumped a better-than-anticipated 9%, powered by home appliances and jewelry.
Meanwhile, market experts are quite optimistic that the influx of tourists from mainland China to Hong Kong will still be firm enough over the long term.
As a matter of fact, August tourist arrivals inched up by up to 17.4% from 2017 hitting 5.896 million, as the Hong Kong Tourism Board informed. The count of mainland visitors jumped by 22%, amounting to up to 81.8% of the total.
In September, China's new home prices managed to surge at a firm tempo, backed by profits in smaller cities and demonstrating that the market was still resilient notwithstanding pressures from softer investment, a decelerating economy as well as…
In September, American home sales went down by the most for more than two years due to the fact that the housing market kept struggling notwithstanding strength across the broader American economy…
In September, Britain's authorities faced a smaller budget deficit than anticipated, although the improvement won’t probably help a lot to have minister Philip Hammond financed as he’s working on his annual budget…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
