Oct tourist arrivals jump about 43 times yy
Oct jewellery sales up 27.4 yy vs Sept39;s 27.5 growth
Govt sees tight financial conditions to weigh on sentiment

HONG KONG, Nov 30 Reuters The continued revival of inbound tourism helped Hong Kong39;s retail sales notch up an 11th consecutive month of growth in October, though it was the slowest pace since December last year when it grew 1.2, official data showed on Thursday.

Sales increased 5.6 yearonyear to HK33.8 billion 4.33 billion in October, Hong Kong government said. That compared to 13 growth in September and 13.7 rise in August

An expected further recovery of visitor arrivals should benefit the retail sector, a government spokesman said, adding that a continued improvement in household income and various activities that boost the economy should benefit the retail sector.

Yet factors such as tight financial conditions and economic uncertainties would weigh on consumption sentiment, the spokesman added.

In volume terms, October retail sales increased 2.7 yearonyear. That compared with a 10 rise in September and 11 growth in August.

For the first 10 months of 2023, the value of retail sales rose 17.2 yearonyear while volume grew 15.

Hong Kong39;s economy expanded 4.1 in the third quarter from a year earlier, beating growth of 1.5 in the second quarter and 2.9 in the first.

However, the government revised down the fullyear economic growth forecast to 3.2 from an earlier estimate of a 4.0 to 5.0 range. The…