January 3, 2017 / 9:01 AM / 8 months ago

Hong Kong November retail sales fall for 21st straight month

Jan 3 (Reuters) - November retail sales data 
(percent change from a year earlier):
    
           Nov    Oct    Sep    Aug   July   June    May
 Value    -5.5   -2.9   -4.0   -10.5  -7.7   -8.9   -8.3
 Volume   -5.6   -2.7   -3.8   -11.0  -7.0   -7.9   -7.3
 
    CONTEXT:
    -- In the three months through November, the volume of sales
rose 4.7 percent, seasonally adjusted, from the preceding three
months.
    
    COMMENTARY:
    A government spokesman indicated that retail sales saw a
somewhat widened year-on-year decrease in November, conceivably
dragged by the reduced tourist spending on some big-ticket items
in that month. The decline in retail sales in October and
November combined was still smaller than that in the third
quarter.
    Looking ahead, the performance of retail sales will depend
on whether inbound tourism would improve and whether the various
external uncertainties would affect local consumer sentiment.
The government will continue to monitor the situation closely.

    LINK:
    -- To view the full details of retail sales data, see the 
Hong Kong government website at: bit.ly/2hMzSKS
    
    

 (Reporting by Twinnie Siu in HONG KONG; Editing by Sunil Nair)

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