Financial News: Hong Kong Retail Sales Fall Further

Hong Kong Retail Sales Fall Further

01/04/2021 - 06:39:00 (RTTNews)

(RTTNews) - Hong Kong's retail sales declined further in November, albeit at a softer pace, figures from the Census and Statistics Department showed on Monday.

The retail sales volume declined 4.7 percent year-on-year in November, following a 9.2 percent fall in October.

The value of retail sales decreased 4.0 percent annually in November, following a 8.7 percent decline in the preceding month.

Sales value of jewelry, watches and clocks, and valuable gifts declined 16.1 percent annually in November. Sales of clothing, footwear and allied products fell 14.1 percent and those of other consumer goods decreased 11.6 percent.

Prices for food, alcoholic drinks and tobacco and fuels fell by 8.8 percent and 5.5 percent, respectively.

The government spokesman said that as inbound tourism remains at a standstill, and the fourth wave of the local epidemic has weighed on local consumption sentiment since the latter part of November, the business environment of the retail trade will remain challenging in the near term.

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