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Hong Kong Retail Sales Growth Slows In June

Hong Kong's retail sales grew at a softer pace in June, figures from the Census and Statistics Department showed on Monday.

The retail sales volume rose 2.8 percent year-on-year in June, after a 7.7 percent growth in May.

The value of retail sales increased 5.8 percent annually in June, slower than a 10.4 percent gain in the preceding month.

Sales value of jewelry, watches and clocks, and valuable gifts surged 31.8 percent annually in June. Sales of clothing, footwear and allied products gained 15.3 percent and those of other consumer durable grew 15.7 percent.

Sales for other consumer goods and fuels rose by 12.5 percent and 5.1 percent, respectively.

"Looking ahead, the spokesman pointed out that the Consumption Voucher Scheme will help stimulate local consumer sentiment and provide support to the retail sector," a government spokesman said.

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