Retail sales grow in Hong Kong

Retail sales in Hong Kong grew by 28.9 per cent annualised in August, official data revealed yesterday. Yet with inflation taken into account the rise is closer to 20 per cent, according to Société Générale. “On a rolling three-month basis, seasonally adjusted data shows retails sales volumes up just 1.6 per cent compared to an average 5.1 per cent in the previous 12 months,” the bank said.