Hong Kong Retail Sector Sees Five Percent Rise in SeptemberThe retail sector of Hong Kong saw a 5-percent year-on-year rise in the value of sales in September compared with 1 percent in August, according to the iMail on November 15.Total sales reached 15 billion HK dollars (US$1.92 billion) in September. The volume of goods sold rose 8 percent in September compared with 5 percent in August. Retail price increases for necessities such as food and clothing are expected early next year, a sign that the local economy is bouncing back from its worst-ever recession of 18 months ago. However, consumers are still reluctant to spend more, forcing merchants to slash prices at the moment. The consumer price index is continuing to fall after 23 consecutive months of deflation. |
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