Hong Kong's retail sales growth decelerated significantly in April, and the rate of growth missed economists' forecast, data released by the Census and Statistical Office showed Thursday.
Retail sales volume increased 7.6 percent annually in April, markedly slower than the 13.2 percent growth seen in March. Economists were looking for a 12.8 percent increase.
Sales of food, alcoholic beverages and tobacco decreased 6.4 percent year-on-year, while fuel sales edged down 1.8 percent. There was a 4.1 percent annual growth in clothing and footwear sales, and a 24.9 percent rise in sales of consumer durable goods.
In value terms, retail sales advanced 11.4 percent year-on-year in April, after growing 17.1 percent in the previous month. The latest growth rate was smaller than 16.4 percent economists expected, data showed.
by RTT Staff Writer
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