Hong Kong retail sales extend growth streak to 15th month in July

HONG KONG, Aug. 31 (Xinhua) -- Hong Kong's provisional estimate of total retail sales value rose 4.5 percent from a year earlier to mark a 15th consecutive month of expansion, official data showed Monday.

Total retail sales for July were provisionally estimated at 31 billion Hong Kong dollars (about 4 billion U.S. dollars), data from the Census and Statistics Department of the Hong Kong Special Administrative Region (HKSAR) government showed.

Sales of jewelry, watches and clocks, and valuable gifts jumped 19.7 percent year on year in July, while those of motor vehicles and parts dropped 18.2 percent from a year ago, the data showed.

Last month, online retail sales grew 9.5 percent from a year ago to 2.8 billion Hong Kong dollars, accounting for 9.1 percent of total retail value, the data showed.

A spokesperson for the HKSAR government said that retail sales growth momentum remained resilient last month, adding that continued economic expansion, rising household incomes, and stable labor market conditions should bolster consumer sentiment.

A series of upcoming mega-events is also expected to sustain growth in visitor arrivals, providing further support to retail businesses, the spokesperson said. Enditem