Hong Kong Retail Sales Plunge

Hong Kong’s retail sales fell last February for the 12th consecutive month. This represents a 13% decline in sales value YoY, and 15% in volume. Whilst the early arrival of CNY was expected to impact sales in the city, a lower number of Mainland tourists, and changing consumer habits have taken a toll in local demand.

Sales of jewelry, valuable gifts, and watches decreased by 13.5% YoY, and apparel and footwear did not fare any better with sales falling by 14.7% YoY.

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