Published:
Consumers spending remains strong
Retail sales value grew to 18.8% in the first two months, which was strong by any measures.
According to Hang Seng Bank, looking ahead, consumers are still in spending mood, underpinned by rising income and better job prospects. The unemployment rate dropped to 3.6% in February, the lowest level since September 2008.
Wage growth also rebounded following improvement in labour market conditions.
Moreover, the government's cash handouts would likely boost consumer sentiment and spending.
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