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Hong Kong retail sales drop 13 per cent in August, continuing 19-month downward spiral

Hong Kong retail sales plunged 13.1 per cent year on year in August, as the coronavirus pandemic continued to batter the struggling sector, marking a 19th consecutive month of contraction.Consumer spending dropped to HK$25.6 billion (US$3.2 billion) in August, contributing to sales for the first eight months of the year falling 30 per cent from the same stretch in 2019, according to provisional figures released by the Census and Statistics Department on Wednesday.The monthly year-on-year…

Read the original article at South China Morning Post

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