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Financial News: Hong Kong Retail Sales Fall Further In October

Hong Kong Retail Sales Fall Further In October

12/02/2019 - 06:44:00 (RTTNews)

(RTTNews) - Hong Kong's retail sales fell for the ninth straight month in October, figures from the Census and Statistics Department showed on Monday.

The retail sales volume dropped 26.2 percent year-on-year in October, following a 20.3 percent fall in September.

The value of retail sales declined 24.3 percent annually in October, following an 18.2 percent in the preceding month. Economists had expected sales to fall 22.6 percent.

Sales of jewelery, watches and clocks, and valuable gifts dropped 42.9 percent in October and that of clothing, footwear and allied products declined 36.9 percent.

"Ending the violence in the local social incidents and restoring social order are crucial to the creation of an environment for the retail business to recover," a government spokesman said.

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