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HONG KONG, March 30 - Hong Kong retail salesjumped 30% in February from a year earlier, reflecting thedistortion caused by the difference in timing of the Lunar NewYear and a low base of comparison early last year amid COVID-19outbreak.
Sales surged to HK$29.5 billion ($3.79 billion), governmentdata showed on Tuesday, snapping 24 consecutive months ofdecline. The surge was the biggest since February 2010, whensales soared 35.8%. That was compared with a revised 13.7%decline in January.
Retail sales tend to show greater volatility in the firsttwo months of a year due to the timing of the Lunar New Year,government said.
For the first two months of 2021 taken together, it wasprovisionally estimated that the value of total retail salesincreased by 2.7% compared with the same period in 2020. REUTERS