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Hong Kong Jewellery sales stay positive

Hong Kong’s jewellery sales in July stayed positive, recording a 16.8% increase compared to the same period last year, JNA reports.

Sales value reached HK$7.25 billion (around US$920 million) during the period in review, data from the Census and Statistics Department showed. From January to July they went up 22.5% from 2017.

The government agency pointed out Hong Kong’s overall retail sales in July rose 7.8% compared to last year.

A government spokesman explained that the rise is due to solid demand from local consumers as well as visitors.

“Looking ahead, favourable labour market conditions and sustained expansion in inbound tourism should continue to support retail sales performance in the near term. However, consumer sentiment may turn less upbeat going forward if the external uncertainties persist or escalate further,” the department said.

Source: JNA