Hong Kong retail sales rise 15.3 percent in June

© 2010 AFP - Hong Kong's retail sales rose 15.3 percent in June from a year earlier, official statistics showed Monday, with tourists from mainland China providing a boost.

Central Hong Kong

Total retail sales for the month hit 24.3 billion Hong Kong dollars (3.12 billion US), the Census and Statistics Department said, marking the 10th consecutive monthly rise.

Taking the first half of 2010 together, total retail sales increased by 17.9 percent in value over the same period a year earlier.

Motor vehicles and auto parts led the gains, rising 35.1 percent in volume. This was followed by sales of electrical goods and photographic equipment (up 26 percent) and jewellery, watches, clocks and valuable gifts (up 18.3 percent).

A government spokesman said that retail sales had continued to grow on the back of positive local consumer sentiment and the rapid expansion of inbound tourism.

However, he cautioned that the fragile nature of the economic recovery in advanced economies remained a concern and could dampen consumer sentiment in Hong Kong.

HONG KONG, Aug 2, 2010 (AFP)