Hong Kong's retail sales climbed for the sixth straight month in July, helped by a stabilising COVID-19 situation and an improved labour market along with an economic recovery.
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Retail sales in July rose 2.9per cent from a year earlier to HKUS$27.2 billion (US$3.50 billion), government data showed on Tuesday. July's increase compared with 5.8per cent growth in June.
"The electronic consumption vouchers that the government began to disburse in August have helped stimulate consumption sentiment and will render support to the retail business in the rest of the year," a government spokesman said, referring to electronic vouchers given to certain consumers to spend in retail stores.
In volume terms, retail sales in July grew 0.9per cent from a year earlier, compared with a revised 2.9per cent surge the previous month.
For the first seven months of 2021, total retail sales increased 7.6per cent in value terms and rose 6.2per cent in volume.
Online retail sales in July jumped 29.0per cent in value year-on-year, compared with a revised growth of 64.0per cent in June.
Sales of jewellery, watches, clocks and valuable gifts, which before the pandemic relied heavily on Chinese tourists from the mainland, climbed 27.1per cent in July versus a revised 31.9per cent surge in June, the data showed.