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Hong Kong: Retail sales record quickest growth since December 2023 in May
Latest reading: Retail sales grew 1.9% year on year in May (April: -3.3% yoy). The print marked the best reading since December 2023 and put an end to fourteen straight contractions. The recovery was led by strong growth in clothing and department stores, while declines in fuel and consumer goods sales slowed.
Meanwhile, the trend improved, with the annual average variation of retail sales coming in at minus 8.0%, up from April’s minus 9.2%.
