Date
21 September 2017
Retailers expect further sales growth in December, driven by holiday spending. Photo: Bloomberg
Retailers expect further sales growth in December, driven by holiday spending. Photo: Bloomberg

November retail sales ride out protests, beat expectations

Hong Kong retail sales grew 4.1 percent in November from a year earlier, with volume up 7.5 percent, the Hong Kong Economic Journal reported Wednesday.

The figures are better than expected in contrast to government projections during the two-month-long democracy protests.

Retailers expect growth to continue this month, pushing full-year figures above last year’s levels.

Rebecca Tse, general manager of marketing at Yata Department Store, said sales were up 19.9 percent across its seven stores in November.

This month, sales are running at a slightly slower pace of 19.4 percent, she said. 

Meanwhile, sales of consumer durables fell 2 percent in November compared with an 11.5 percent decline in October.

Andy Kwan, director at ACE Center for Business and Economic Research, expects retail sales to expand 4-5 percent this month, boosted by holiday buying.

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VW/JP/RA

Freelance journalist

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