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Hong Kong retail sales plunge 14.6 per cent for February in sharpest dive in 19 months, industry leader predicts more shop closures

Hong Kong retail sales plunged 14.6 per cent in February, the sharpest rate in 19 months under stringent social-distancing curbs amid the city’s fifth wave of Covid-19, with an industry leader predicting a “bleak” outlook for businesses and a looming closure of shops. The year-on-year decline to HK$25.2 billion (US$3.2 billion) in sales showed the effects of tightened anti-epidemic measures put in place to cope with a rapidly worsening health crisis, a government spokesman said on Thursday. …

Read the original article at South China Morning Post

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