Saturday, October 25, 2014   

HK retail sales shrink in June
(07-31 16:48)

The value of total retail sales in June 2014 decreased 6.9 percent to HK$37.1 billion from a year earlier, the Census and Statistics Department said.
The revised value of total retail sales in May 2014 decreased by 3.9% percent over the same period a year earlier. For the first half of 2014, total retail sales shrank 1.3 percent in value over the same period a year earlier.
A government spokesman noted that retail sales registered another year-on-year decline in June, largely because the sharp fall in the sales of jewellery, watches and clocks, and valuable gifts persisted, conceivably indicating the moderation in tourist spending on some big-ticket items against a still high base of comparison in June last year. Yet, sales of many other goods that were more closely related to local consumption recorded further year-on-year growth.   
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