Asia-Pacific is expected to drive global retail sales over the next five years, even as the Middle East conflict is hurting consumer confidence, according to business analysts. The war could continue to weigh on consumer and business sentiment for now due to higher energy prices and supply chain disruption, Anand Ramanathan, Deloitte Asia-Pacific’s retail and consumer products sector leader, said in an interview. “As borrowing costs rise and financial conditions tighten, consumers and businesses...
Hong Kong’s retail sales rose by 8.6 per cent year on year in April, extending the sector’s recovery for a 12th consecutive month, supported by continued growth in visitor arrivals and holiday spending. Provisional figures released by the Census and Statistics Department on Tuesday showed retail sales reached HK$31.4 billion (US$4 billion) in April, compared with HK$28.9 billion a year earlier. Retail sales for the first four months of 2026 rose 11.3 per cent from the same period last year. A...