In the credit card firm’s Index of Retail report, China led the way for growth at 18 per cent as retail sales are expected to hit 5.5 billion yuan (US$805 million), while Hong Kong registered 12.7 per cent growth.
Other markets with strong growth include Indonesia, Malaysia and the Philippines, with year-on-year growth expected to reach 12 per cent, 9.3 per cent and 8.6 per cent, respectively.
Markets that will be less bullish include Taiwan, New Zealand and Japan, with growth limited to just 2.9 per cent, 2.5 per cent and 1 per cent respectively.
Retail sales still growing in Asia: MasterCard
ASIA-PACIFIC - MasterCard has predicted that retail sales across Asia-Pacific will continue to grow in the second half of 2008 despite the global economic gloom.
