Strong retail sales in April

Jewelry, watches and clocks are best performers.

Hong Kong said that retail sales picked up strongly year-on-year in April with the major boost provided by a surge in sales of jewelry, watches and clocks, and valuable gifts. Gold-related sales also spiked during the month.

It said the largely stable labor market and buoyant inbound tourism should remain good for the retail business in the near term. But retail sales performance in individual months could be volatile.

There is also a need to remain alert to external uncertainties and local factors such as labor market and asset market developments that may affect future retail business.