Hong Kong Retail Sales Growth Slows In December

(RTTNews) - Hong Kong's retail sales rose at a softer pace in December, figures from the Census and Statistics Department showed on Monday.

The retail sales volume rose 3.4 percent year-on-year in December, after a 4.3 percent growth in November.

The value of retail sales increased 6.2 percent annually in December, after a 7.1 percent rise in the preceding month.

Sales value of jewelry, watches and clocks, and valuable gifts surged 24.0 percent annually in December. Sales of clothing, footwear and allied products rose 12.5 percent and those of other consumer goods gained 10.1 percent.

Sales for fuels and consumer durable goods increased by 18.4 percent and 5.1 percent, respectively.

In 2021, the value of retail sales growth rose to 8.1 percent from 6.5 percent in 2020.

"Looking ahead, the spokesman pointed out that the latest wave of local epidemic and the tightened anti-epidemic measures have weighed on consumption sentiment and posed renewed pressures on the retail sector," a government spokesman said.