HONG KONG, July 2 (Xinhua) -- The provisional estimate of total retail sales value in Hong Kong for May was 31.3 billion Hong Kong dollars (about 3.98 billion U.S. dollars), representing a 2.4 percent year-on-year increase and marking the end of a 14-month streak of declines, according to official figures released on Wednesday.

After netting out the effect of price changes over the same period, the provisional estimate for the month was 1.9 percent higher year-on-year. For the first 5 months of 2025, the provisional estimate of the total retail sales decreased by 5.5 percent in volume compared with the same period in 2024, the Census and Statistics Department of the Hong Kong Special Administrative Region (HKSAR) government said.

A spokesperson for the HKSAR government said that retail sales performance saw improvement in May. On a seasonally adjusted basis, the value of total retail sales increased by 7 percent over the preceding month.

While the retail sector continues to adapt to the changes in consumption patterns, the HKSAR government's proactive efforts in promoting tourism and mega events, in tandem with the increase in employment earnings and sustained steady growth of the mainland economy, will help bolster consumption sentiment and support the consumption market, the spokesperson said. (1 U.S. dollar equals 7.85 Hong Kong dollars) ■