HONG KONG, March 4 (Reuters) – Hong Kong’s retail sales in January rose 5.5% by value from a year earlier for a ninth month of gains, government data showed on Wednesday, as the momentum of economic recovery continued in the new year.
Sales increased to HK$37.3 billion ($4.77 billion). In December, retail sales rose 6.6% year-on-year.
In volume terms, January retail sales increased 3.4% from a year earlier, compared with a rise of 5.1% in December.
“Looking ahead, the robust economic growth momentum and the sustained growth in inbound visitors will continue to underpin local consumption, thereby benefiting retail businesses,” a government spokesperson said.
Visitor arrivals in January increased to 4.81 million, up 1.5% from a year earlier, data from the Hong Kong Tourism Board showed.
Sales of jewellery, watches, clocks and valuable gifts jumped 31.1% in January on the year, after a rise of 14.3% in December.
Sales of clothing, footwear and allied products fell 19.9% year-on-year in January following a 10.3% drop in December.
($1=7.8164 Hong Kong dollars)
(Reporting by Hong Kong newsroom; Editing by Andrew Heavens and Clarence Fernandez)
