Hong Kong’s retail sales continued to decline in October, albeit at a softer pace, figures from the Census and Statistics Department showed on Tuesday.
The retail sales volume declined 9.3 percent year-on-year in October, following a 13.3 percent fall in September.
The value of retail sales decreased 8.8 percent annually in October, following a 12.8 percent decline in the preceding month.
Sales value of jewelry, watches and clocks, and valuable gifts declined 26.6 percent annually in October. Sales of clothing, footwear and allied products fell 10.8 percent and those of other consumer goods decreased 11.1 percent.
Prices for food, alcoholic drinks and tobacco and fuels fell by 6.5 percent and 3.7 percent, respectively.
“The year-on-year decline in retail sales narrowed in October as consumption sentiment improved amid the stable epidemic situation in that month,” a government spokesman said.
The material has been provided by InstaForex Company – www.instaforex.com