Hong Kong’s retail sales continued to improve in August, accelerating by 3.8 per cent year on year and for the fourth month in a row, as the city’s mega-event tourism drive provided a boost to consumer sentiment.Provisional figures released by the Census and Statistics Department on Thursday showed sales reached HK$30.3 billion (US$3.9 billion) in August, the fourth month in a row of growth following 14 consecutive months of decline.The growth was the sharpest since December 2023 when it jumped by 7.8 per centIn July, retail sales rose by a revised 1.8 per cent to HK$29.7 billion.A government spokesman said the continued growth in retail sales reflected stabilising local consumer sentiment buoyed by inbound tourism and the mega-events drive.“The stabilising local consumer sentiment, coupled with sustained growth in inbound visitors and the government’s proactive efforts in promoting tourism and mega-events, should render support to retail businesses,” he said.
Hong Kong’s retail sales rise by 3.8% in August, helped by tourism
Sales reached HK$30.3 billion in August, fourth month in row of growth following 14 consecutive months of decline.
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