Hong Kong retail sales up 27.8% in May

11:04, July 05, 2011      

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Hong Kong's Census and Statistics Department announced on Monday that provisional estimate indicated the city's total retail value in May reached 33.1 billion HK dollars (about 4.25 billion U.S. dollars), 27.8 percent higher than the same period last year.

After netting out the effect of price changes over the same period, the volume of total retail sales in May went up 21.6 percent. the department said.

It added that the total retail sales during the first five months this year was up 23.6 percent in value and 18.4 percent in volume over the same period last year.

An official spokesman said local consumer sentiment is expected to remain sanguine on the back of improving incomes, which, together with vibrant inbound tourism, will continue to bode well for the retail business in the coming months.

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