Hong Kong’s retail sales of jewellery and other luxury items rose in June after months of continuous declines, demonstrating initial signs of recovery.

Data from the Census and Statistics Department showed sales of jewellery, watches and clocks, and valuable gifts were up 6.8 per cent year-on-year to HK$4.57 billion (around US$582.16 million) in June – the sector’s first positive performance for the year. January to June sales, meanwhile, were down 6.3 per cent to HK$24.83 billion (approximately US$3.16 billion). 

By comparison, jewellery sales recorded persistent monthly decreases in the first five months of the year, which the government attributed to changes in consumption patterns and people choosing to spend on experiences and traveling.

Overall sales, including all retail segments, saw a modest gain of 0.7 per cent in June and a decline of 3.3 per cent in the first half of the year, data further showed.

“Retail sales showed signs of stabilisation in recent months,” the government said, adding that improvements in employment earnings and local stock market coupled with government efforts to promote tourism and mega events could encourage a more positive consumption sentiment.