Hong Kong: Retail sales slow in March
Latest reading: Retail sales were up 9.8% on a year-on-year basis in March, following a 17.5% rise in the prior month.
Relative to the prior month’s data, readings in March softened for fuel (-27.5% on a year-on-year basis vs -18.4% in February), supermarkets (+0.7% vs +14.1% in February), food and alcoholic beverages (-0.4% vs +17.6% in February) and clothing and footwear (+7.7% vs +18.6% in February). In contrast, the reading for jewelry, watches and valuables improved in March (+5.7% vs +4.4% in February).