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Hongkong'S Retail Sales Increased By &Nbsp In May, And The Yuan Rose.

2010/7/6 18:09:00 24

Due to the increase in the number of visitors to Hong Kong in the same month and the relatively low base in the same period last year, the growth rate of retail sales in Hongkong accelerated in May. Economists said they expect the growth momentum in the third quarter to continue, because the appreciation of the renminbi will prompt more mainland Chinese tourists to travel to Hongkong.

Hongkong government statistics office 2, Hongkong May

Retail sales

A 19.7% increase over the same period last year, up from 15.5% in April, is also higher than the median expected value of 17% of eight economists surveyed by Dow Jones newswires.

Hongkong's retail sales decreased by 6.2% in 2009 May compared with the same period last year.

Hongkong's retail sales in May increased by 16.2% over the same period last year, up from 12.4% in April, and higher than the median 14.5% expected by economists.

In the first five months of 2010, the total retail sales in Hongkong increased by 18.3% compared with the same period last year, and the total retail sales increased by 15.2% over the same period last year.

After seven consecutive months of decline, Hongkong

Retail sales

From 09 to September, the year-on-year growth has been achieved.

Lu Qibang, an economist at Beijing Huashan, said he expects Hongkong retail sales to grow by 10%-20% this year.

He also said that after the central bank announced that RMB flexibility should be enhanced, the renminbi has recently risen, which may attract more mainland tourists to Hongkong after more purchasing power.

The yuan rose to a new high against the dollar on Friday.

inquiry

Trading market

Around 0930 of Greenwich mean time, the US dollar was 6.7711 yuan, less than 6.7810 yuan on Thursday's closing price.

Tourist expenditure accounts for more than half of Hongkong's retail sales.

The Hongkong Tourism Board has said that the number of tourists to Hong Kong in May has increased 39% to 2 million 820 thousand, up to a record high in May.

But the Hongkong government says the European sovereign debt crisis may drag consumer confidence in the near future.

A spokesman for the Hongkong government said in a notice that the deterioration of the European sovereign debt crisis has brought uncertainty to the general recovery of the global economy, and that consumer demand in Hongkong will also be affected by this uncertainty in the future.

He said the rebound in local unemployment could also hurt consumer confidence in the short term.

Hongkong's unemployment rate rose slightly from 4.6% in 2-4 to 4.6% in 3-5, the first time since mid year.