A worldwide study of year-end sales released by the Hong Kong Trade Development Council (HKTDC) and quoted by IDEX Online claims that “retail business in Hong Kong’s export markets is expected to grow” in 2018.
According to the HKTDC, Hong Kong’s key export destinations – from the US to Brazil – experienced growth, based on preliminary 2017 Christmas sales. The study also found that “online retail sales grew faster than overall retail sales in many major markets”.
HKTDC Principal Economist (Greater China) Billy Wong remarked: “The positive retail sales growth witnessed towards the end of 2017 suggests that the traditional markets are now on track for growth, while the emerging economies are also picking up speed Overall, the global retail market enjoyed healthy festive growth over its traditionally busiest period. The growth momentum of the global consumer market is likely to be maintained in 2018”.
The report also said that “the US economy is expected to maintain its growth momentum in 2018, and the prospects for many European countries seem positive”.
