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Financial News: Hong Kong Retail Sales Decline Most In 4

Hong Kong Retail Sales Decline Most In 4 Months

08/01/2019 - 07:37:00 (RTTNews)

(RTTNews) - Hong Kong's retail sales declined at the fastest pace in four months in June, figures from the Census and Statistics Department showed on Thursday.

The volume of retail sales dropped 7.6 percent in June, following a 1.8 percent fall in May.

The latest decline was the weakest since February, when sales fell 10.5 percent.

The value of retail sales declined 6.7 percent year-on-year in June, following a 1.4 percent fall in the previous month.

Sales of jewelery, watches and clocks, and valuable gifts declined by 17.1 percent annually in June and that of consumer durable goods fell 10.1 percent.

"In the near-term performance of retail sales will likely remain subdued, as the weakened global and local economic outlook and other headwinds continue to weigh on consumption sentiment," a government spokesman said.

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