Hong Kong’s retail sales rose in August as mainland Chinese tourists returned to the city, providing an encouraging lift for an economy that’s been trying to revive its image as a shopping hub.
Retail sales by value rose 13.7% from a year ago, the Census and Statistics Department said Friday. That was less than the median estimate of a 15.8% increase in a Bloomberg survey of economists, and compares to a weak base from 2022 when the city still had some pandemic curbs.A government spokesman said that the value of total retail sales continued to register visible year-on-year growth in August, thanks to a further increase in visitor arrivals.
The government is hoping that a tourism recovery can fuel growth this year, though there have been challenges to those efforts as the city struggles to regain its appeal as a retail paradise.
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