Hong Kong retail sales value as well as volume increased more than expected in February, the Census and Statistics Department said Tuesday.
The value of retail sales increased 22.7 percent from a year ago, much faster than the 10.5 percent growth logged in January and the expected expansion of 17.7 percent.
Likewise, sales volume advanced 21.9 percent in February compared to 10.4 percent increase in the prior month. The annual growth exceeded a 17.1 percent rise forecast by economists.
A government spokesman said that looking ahead, the broadly stable labor market conditions and vibrant inbound tourism should continue to lend support to the retail business in the near term.
by RTT Staff Writer
For comments and feedback: editorial@rttnews.comEconomic News