2010.08.3105:37:00UTC+00Hong Kong Retail Sales Increase More Than Expected In July

Hong Kong's retail sales increased larger than expected in July.

The retail sales volume increased 16% year-on-year in July, faster than a 11.9% growth in the previous month, a report by the Census and Statistics Department showed on Tuesday. Economists were looking for an increase of 14.1%. Retail sales in June was revised from 12.1% rise estimated initially.

For the first seven months of the year, retail sales increased 14.9% compared to the same period of the previous year.

Meanwhile, retail sales value grew 18.9% on an annual basis in July, faster than 15.3% in the previous month. Economists had expected an increase of 11.12%. In the January to July period, retail sales climbed 18% over a year ago.

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