Hong Kong's September retail sales boosted by rising incomes

HONG KONG, Nov 1, 2007 (AFP) - Hong Kong's retail sales rose 15.8 percent year-on-year in September as rising income and an improving job market boosted consumer confidence, a government spokesman said Thursday, november 1st.

He said the buoyant stock market along with strong tourism figures also boosted the performance.

Retail sales rose to 19.6 billion Hong Kong dollars (2.53 billion US) in September compared with a 20.6 billion rise in August, which was a 15.0 percent increase year-on-year.

Spending on electronic goods, photo equipment, jewellery and valuable gifts increased the most over the period, the figures from the government's Census and Statistics Department showed.

Consumer spending is likely to remain robust on the back of the strong economic fundamentals and continued strong tourism, the spokesman added.