HONG KONG : Hong Kong's retail sales fell in November, snapping two straight months of growth, and tightened financial conditions would continue to weigh on consumption, the government said on Wednesday.November retail sales fell 4.2 per cent from a year earlier in value terms to stand at HK$29.5 billion
HONG KONG : Hong Kong's retail sales fell in November, snapping two straight months of growth, and tightened financial conditions would continue to weigh on consumption, the government said on Wednesday.
Apart from the wearing of masks, which remains compulsory, Hong Kong cancelled all its stringent COVID-19 rules from last Thursday, meaning arrivals no longer need to do mandatory PCR tests, while the city's vaccine pass has also been scrapped. The city is facing headwinds from high inflationary pressure and aggressive monetary tightening in advanced economies, while rising interest rates and a pessimistic economic outlook have put pressure on asset prices, dragging down November home prices to more than 5-year low.
Tourist arrivals in November soared 10 times from a year earlier to 113,763. That compared with a 760.9 per cent jump in October.
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Hong Kong retail sales fall 4.2% in November, snapping two months of growthHONG KONG : Hong Kong's November retail sales fell 4.2 per cent from a year earlier, snapping two straight months of growth with tightened financial conditions weighing on local demand, government data showed on Wednesday.Sales dropped to HK$29.5 billion ($3.77 billion). That compared with a revised 4 per
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