Hong Kong Retail Sales Soar In October

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Hong Kong's retail sales value increased 9.8% year-on-year to HK$22.8 billion in October, markedly steeper than the 2.6% rise in the previous month, the Census and Statistics Department reported on Tuesday. Economists had expected sales to rise 7.6%.

In volume terms, retail sales increased 8.2% annually in October, adding to the 1.2% growth in the preceding month. Economists had expected a 6.5% increase. Retail sales volume surged 6.9% in the three months to October period when compared to the preceding three-month period.

In the first ten months of the year, retail sales dropped by 2.2% in value terms and by 3.1% in volume terms when compared with the corresponding period of 2008.

Hong Kong's retail sales value increased 9.8% year-on-year to HK$22.8 billion in October, markedly steeper than the 2.6% rise in the previous month, the Census and Statistics Department reported on Tuesday. Economists had expected sales to rise 7.6%. (Market News Provided by RTTNews)