Hong Kong: Decline in retail sales softens in June
July 30, 2020
Retail sales fell 25.4% compared to the same month a year earlier in June, which was markedly softer than May's 34.0% decrease. The figure also marked the smallest drop since January.
The smaller drop was partly driven by a faster increase in fuel sales. Jewelry, watches and valuables sales also dropped at a softer pace. In contrast, growth in supermarkets sales decelerated.
The annual average variation in retails sales deteriorated to minus 28.5% in June, below May’s minus 27.0%.