Hong Kong September retail sales in doldrums as pandemic curbs spending

Hong Kong’s retail sales fell by double digits in September as coronavirus restrictions slammed the brakes on spending and tourism slowed to a trickle, but the decline was smaller than in August as infections slowed.. In volume terms, retail sales slumped 13.4%, unchanged from the previous month. “The business environment of the retail trade will remain challenging in the near term, as inbound tourism is unlikely to see a swift rebound and the labour market is still under pressure,” a government spokesman said.

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