Asia

Hong Kong October retail sales rise 12per cent on economic recovery, gov't stimulus


HONG KONG : Hong Kong retail sales rose 12per cent in October from a year earlier, the ninth consecutive month of growth, as demand benefited from an entrenched economic recovery and boosted by the effect of the electronic consumption voucher scheme.

Sales surged to HKUS$30.7 billion (US$3.94 billion) in October, government data showed on Tuesday. They grew a revised 7.4per cent in September.

In volume terms, retail sales rose 9.4per cent year-on-year in October, compared with a revised 4.9per cent surge in September.

(US$1 = 7.7994 Hong Kong dollars)

(Reporting by Donny Kwok and Twinnie Siu; Editing by Louise Heavens)



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