2017.06.2905:51:00UTC+00Hong Kong Retail Sales Rise For Third Month

Hong Kong's retail sales increased for the third straight month in May, preliminary figures from the Census and Statistics Department showed Thursday.

The value of retail sales climbed 0.5 percent year-over-year in May, following a 0.1 percent slight rise in April.

The volume of retail sales rebounded 0.7 percent annually in May, after a 0.1 percent drop in the prior month.

The value of sales of jewellery, watches and clocks, and valuable gifts increased 1.4 percent annually in May, while sales of commodities in supermarkets fell by 1.1 percent.

"Retail sales increased slightly in May over a year earlier, reflecting the relative improvement in inbound tourism and the resilience of local consumption demand," a government spokesman said.

"The near-term outlook for retail sales will depend on the recovery pace of inbound tourism as well as the state of local consumption sentiment amid various external uncertainties."

"The Government will continue to monitor the situation closely."