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Retail Sales Rise In Hong Kong
Jun 20, 2007

Hong Kong's retail sales increased in August probably at its fastest pace in last four months as high incomes left customers with more to spend.

As per the median forecast a study by Bloomberg News, retail sales increased 7.5 percent from previous year. In the recent months, growth in retail sales reflected an indecisive outlook for the rates & an unstable job market. As per market analyst such an increase, was perhaps the fastest since the month of April, data highlighted an increase of 9.5 percent from the last year.

A senior economist at citigroup said that the improving employment, constant interest rates and wage rises would continue to maintain customer spending. Growing demand within the city is set to help the economy offset the impact of exports.

According to industry analyst, retail sales in Hong Kong city for the fiscal year 2006 ended June 30 increased 9.4 percent as compared to the same period of the previous year. As per the Bloomberg News survey, in August possibly the retail sales grew 6 percent from a year earlier.

As per RNCOS market research report, "China Retail Sector Analysis (2006-2007)" in the year 2005, the total retail sales reach to US$ 755 Billion. Although the organized retail only accounted for 20 percent of the total retail sales, but with the deregulation of retail in China due to WTO share of organized retail is likely to go up.

Related Market Research Reports:
Booming Retail Sector in India
Booming Retail Sector in UAE
Opportunities in Asian C-store Market