MNI BRIEF: Hong Kong Retail Sales Rebound In October
Hong Kong's retail sales increased 3.9% y/y in October, boosted by a recovering labour market and consumption vouchers, the Census and Statistics Department (the C&SD) said on Thursday.
Provisional estimates for October showed retail sales climbed to HKD31.9 billion, up HKD3.8 billion from September.
Spending on food and alcohol increased 2.1% y/y, while consumer durable goods rose 17.2% y/y. This was partially offset by decreases in department store spending of 17.1% y/y. The C&SD said consumption could gain momentum as epidemic control measures continue to be relaxed.