Hong Kong’s retail sales likely to have grown in March

Hong Kong’s March retail sales data is set to be released this week. According to a DBS Bank research report, retail sales is likely to have grown 10.8 percent in terms of value and 8.2 percent in terms of volume in March, as compared with 15.7 percent and 13.9 percent in the first two months of this year.

Local consumption sentiment has been underpinned by the ever-so-low jobless rate, which is at 2.9 percent, and the appreciable payroll growth, which rose 4.2 percent in the fourth quarter of 2017. This along with a buoyant equity market and a recovery in inbound tourism, should lift the retail sales figure future in the coming months, added DBS Bank.

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