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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%.

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FinSmart team

FinSmart is your go-to platform for "smart finance", where we break down complex financial topics simply and clearly. We help you navigate the financial world with confidence

finsmart-news.com

FinSmart team

FinSmart is your go-to platform for "smart finance", where we break down complex financial topics simply and clearly. We help you navigate the financial world with confidence

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