Thursday, July 24, 2014   

Retail sales to resume growth in Q3: HKU
(07-03 17:37)

Hong Kong retail sales will pick up again in the third quarter of the year, said Wong Ka-fu, Principal Lecturer in Economics at the University of Hong Kong.
Retail sales volume fell 9.5 percent in April from a year ago, reflecting the change in spending pattern of tourists, he said. The gold rush last year had pushed up the base figure, making the comparison steeper this year, he added.
Wong estimated that retail sales volume to fall 4.6 percent in the second quarter, and rebound with a 2.4 percent growth in the third. A double-digit growth is hard to archive in the shorter term, he noted.   
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