According to Hong Kong Government data, jewellery sales in HK further strengthened in July, due to improving market conditions and consumer spending. As per the city’s Census and Statistics Department, retail sales of jewellery, watches and clocks, and other valuable gifts rose 28.3 per cent to around $518 mn in July from the same period a year ago.
From January to July, jewellery sales dipped 1.8 per cent to around $2.74 bn. Overall retail sales in July were up 4.1 per cent while January to July figures showed a 1.7 per cent decline.
While retail sales resumed a moderate year-on-year rise in July on the back of improving labour market conditions, which supported consumer spending. A lower base of comparison also contributed to the year-on-year increase.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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