Hong Kong July retail sales rise 2.9% as pandemic threat eases By Reuters

Hong Kong July retail sales rise 2.9% as pandemic threat eases By Reuters

© Reuters. FILE PHOTO: People cross a street in a shopping area of the Central business district in Hong Kong, China August 22, 2019. Picture taken August 22, 2019. REUTERS/Thomas Peter

HONG KONG (Reuters) – Hong Kong retail sales rose 2.9% in July from a year earlier, the sixth consecutive month of growth, as demand benefited from a stabilising of COVID-19 and an improved labour market along with an economic recovery.

Sales surged to HK$27.2 billion ($3.50 billion) in July, government data showed on Tuesday. They grew 5.8% in June.

In volume terms, retail sales jumped 0.9% year-on-year in July, compared with a revised 2.9% surge in June.

($1 = 7.7819 Hong Kong dollars)

(This story has been corrected to change June figure to 2.9%, not 2.8% in para.3)

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