PREVIEW: The value of Hong Kong's retail sales likely rose 9.9% on year in May, slower than April's 11.4% rise, according to the median forecast of five economists polled by Dow Jones Newswires. By volume, retail sales likely rose 6.5% on year, easing from April's 7.6% increase, the poll shows. Economists say the city's economic slowdown weighs on the local spending. "I expect the local retail business will continue to moderate in coming months as the business environment turns sour in both Hong Kong and China amid the uncertain global outlook," Bank of East Asia economist Paul Tang says. The government is scheduled to release the data 0830 GMT.
Find us on Google+
No comments:
Post a Comment