Hong Kong’s retail sector recorded its first annual increase in more than a year, with retail sales by value rising by 2.4 per cent in May, according to official government figures released on Wednesday. The total sales value reached HK$31.3 billion (approximately US$3.99 billion), marking a notable rebound following a 2.3 per cent year-on-year decline in April.
In volume terms, retail sales rose 1.9 per cent year-on-year in May, reversing a revised 3.3 per cent contraction in the previous month. The return to positive territory suggests a gradual recovery in consumer sentiment and spending activity, though analysts note that broader economic conditions and tourism flows will remain key factors influencing the pace of retail recovery in the months ahead.
-Reuters
