HK retail sales rise in second quarter

Retail sales for the second quarter in Hong Kong rose 2.7 percent year-on-year, according to Census and Statistics Department.

The data also showed that several major service industries recorded yearly increases in business from April to June, benefiting from relaxed social distancing rules and the government's support measures.

Besides retail sales, accommodation services reported a 43.5 percent growth in turnover, partly due to a low base from a year ago, while the transport sector's income rose 26.4 percent over the same period, as prices for water transport and air travel surged.

The income of tourism, convention and exhibition services soared 53 percent yearly during the second quarter, while that of computer and information technology services also increased by 7.3 percent.

However, the financing industry's income declined for the third consecutive quarter by 15.7 percent, though the banking services continued its rebound with a 4.4 percent yearly rise.

The property sector narrowed the sharp decline seen in the previous quarter but sales still fell 3.5 percent year-on-year.

Looking ahead, the government expects the worsening global economy will keep weighing on the service sectors and surging Covid infections might put the local economic recovery under pressure.