Hong Kong Retail Sales Decline For Thirteenth Month

Hong Kong’s retail sales fell for the thirteenth month in a row in January, figures from the Census and Statistics Department showed on Tuesday.

The retail sales volume declined sharply by 46.7 percent year-on-year in February, following a 23.1 percent decrease in January.

The value of retail sales decreased 44.0 percent annually in February, following a 21.5 percent fall in the preceding month.

Sales value of jewelry, watches and clocks, and valuable gifts declined 58.6 percent annually in February and those of clothing, footwear and allied products, and department stores fell by 48.8 percent and 41.4 percent, respectively.

” The year-on-year fall in retail sales volume widened sharply in February and was the steepest for a single month on record,” a government spokesman said.

“This mainly reflected the heavy blow to tourism- and consumption-related activities dealt by COVID-19, though the distortions from the timing of the Lunar New Year also contributed.”

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