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Hong Kong retail sales inch up just 2.9 per cent in July, but spending leap expected on back of consumption voucher roll-out

Hong Kong’s retail sales rose 2.9 per cent year on year in July, the lowest increase in six months, though a surge in spending driven by distribution of the city’s electronic consumption vouchers was expected to drive gains in the days ahead.Provisional figures released by the Census and Statistics Department on Tuesday showed July sales of HK$27.2 billion (US$3.5 billion), up 2.9 per cent compared with the same period last year.But on a monthly basis, retail sales slipped 3.2 per cent compared…

Read the original article at South China Morning Post

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