Hong Kong May retail sales up 2.4% year-on-year

HONG KONG (Reuters) -Hong Kong’s retail sales by value rose by 2.4% in May from a year earlier, the first such increase in more than a year, government data showed on Wednesday.

Sales increased to HK$31.3 billion ($3.99 billion) in May, compared with April when retail sales fell 2.3% compared with the same period a year before.

In volume terms, May retail sales increased 1.9% from a year earlier, compared with a revised 3.3% decline in April.

($1 = 7.8497 Hong Kong dollars)

(Reporting by Jessie Pang; Editing by James Pomfret and Andrew Heavens)