Hong Kong’s retail sales in November declined by 5.5%
Hong Kong’s retail sales by value fell 5.5% in November from a year earlier to 36.0 billion Hong Kong dollars (US$4.64 billion) due to reduced tourist spending, according to the Census and Statistics Department.
Hong Kong’s retail sales by volume fell 5.6% in November from a year earlier, worse than October’s 2.7% fall. The January-November retail sales by volume dropped 7.6% from a year earlier.
“Looking ahead, the performance of retail sales will depend on whether inbound tourism would improve and whether the various external uncertainties would affect local consumer sentiment,” a government spokesman said.