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AFP
Published
Jun 1, 2010
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Hong Kong retail sales rise 15.6 percent in April

By
AFP
Published
Jun 1, 2010

HONG KONG, June 1, 2010 (AFP) - An improving labour market and growth in tourism helped drive Hong Kong's retail sales up 15.6 percent in April from a year earlier, the government said Tuesday 1 June.



Total retail sales for the month were 25.1 billion dollars (3.2 billion US), marking an eighth consecutive month of increase, the Census and Statistics Department said.

For the first four months of the year, total retail sales increased by 18.0 percent in value over the same period the previous year.

Motor vehicles and auto parts drove the gains, rising 54.0 percent in volume in April from a year earlier, followed by electrical goods and photographic equipment (up 26.1 percent), and jewellery, watches and clocks, and valuable gifts (22.1 percent higher).

"The gradually improving income and job conditions amidst an entrenched economic recovery, together with the growth in inbound tourism, have been providing a continuing support to retail business," a government spokesman said in a statement.

"Looking ahead, the recently increased level of uncertainty in the external environment, together with the consolidation in the asset markets, may temper somewhat the growth momentum of local consumer demand. However, the further expansion of inbound tourism should remain favourable for the retail business."

The government last month said, barring major external shocks, the city's economic growth was likely to exceed its earlier forecast of a 4.5-5.0 percent expansion for 2010, helped by a strong rebound in the regional economy.

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