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Hong Kong’s retail sector continues to be supported by strong underlying fundamentals. The economy gathered further momentum in 2Q13, with real GDP growing by 3.3% y-o-y, up slightly from the 2.9% y-o-y achieved in 1Q13.
The labour market remained healthy with employment at record high levels and further improvements in wages and earnings over the first half of the year; the latest figures showing nominal payrolls growing by 5.0% y-o-y in 2Q13.
Consumer sentiment also remained strong, with AC Nielsen’s Consumer Confidence Index still close to its three-year high level despite retreating by a point to 107 in 2Q13.
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01 July 2013
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