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Slump in Hong Kong retail sales eases but outlook remains downbeat as Covid-19 fourth wave takes hold

Hong Kong’s retail sales declined by a lesser extent in October, slumping 8.8 per cent year on year, but the consumption outlook remained downbeat as the city battled another surge of coronavirus infections.Consumption shrank to HK$27.4 billion (US$3.55 billion), marking the 21st month in a row of retail sales contraction, according to the Census and Statistics Department on Tuesday.Retail sales fell 27 per cent per cent in the first 10 months from the same period last year. On a monthly basis,…

Read the original article at South China Morning Post

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