Hong Kong: Decline in retail sales softens in April
Latest reading: Retail sales declined 3.2% in year-on-year terms in April, which followed March’s 4.7% decrease. The figure was the best since February 2024 but still the fourteenth straight month of contraction, with sales continuing to fall across a broad range of subsectors.
As a result, Hong Kong retail sales are still languishing well below their pre-Covid-19 levels, weighed on by the still-incomplete recovery in tourist arrivals and the increasing number of Hong Kongers opting to shop on the mainland.
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