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Hong Kong retail sales up 12.3% YOY in April

Hong Kong's retail sales by value increased 12.3% year over year to HK$39.5 billion in April, according to the city's Census and Statistics Department.

That was above the 11.5% year-over-year increase in retail sales value confirmed for March. For the first four months of the year combined, total sales were up 13.9% compared to the same period in 2017.

Growth was posted across all product categories in April, led by jewelry, watches and clocks, and valuable gifts with a 24.6% year-over-year surge in sales value. That was followed by increases of 17.9% for medicines and cosmetics; 17.7% for electrical goods and other consumer durable goods; 16.4% for motor vehicles and parts; and 12.6% for department store commodities.

Sales value for the month also rose 9.4% year over year for footwear, allied products and other clothing accessories; 6.3% for apparel; 3.9% for food, alcoholic drinks and tobacco; 1.4% for furniture and fixtures; and 1.1% for supermarket commodities.

In volume terms, April retail sales were up 11.1% year over year, compared to the 10.1% growth recorded in March.