Hong Kong Dec retail sales growth slows to 18-month low
Reuters reported that Hong Kong’s retail sales in December rose at their slowest pace in 18 months, as consumer sentiment increasingly became cautious amid protracted Sino-US trade tensions. In volume terms, retail sales grew 0.2% in December, compared with a revised 1.2% rise in November. That was the slowest since April 2017. Retail sales edged higher 0.1% from a year earlier in value terms, to HK$44.9 billion (US$5.7 billion), marking the 22nd consecutive monthly expansion, and the slowest since June 2017. That compares with a 1.4% rise in November. For the whole of 2018, total retail sales rose 8.8% in terms of value and 7.6% in terms of volume from the previous year, the sharpest since 2013 when retail sales climbed 11% in value and 10.6% in volume. Australian is not the only market where December sales were mediocre.