HK Financial Chief Sees Rebound in Second-Quarter Retail Sales

Hong Kong Financial Secretary Paul Chan said he expects a bounce-back in second-quarter private consumption, following more than 12 months of decline.

Retail sales increased in May from a year earlier after 14 months of declines, Chan wrote in a blog post on Sunday, indicating early signs of market stabilization. He said he was “cautiously optimistic” on the outlook for June data.