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Hong Kong January retail sales decline narrows to 0.9 pct yr/yr
March 2, 2017 / 8:42 AM / 9 months ago

Hong Kong January retail sales decline narrows to 0.9 pct yr/yr

    March 2 (Reuters) - January retail sales data 
(percent change from a year earlier):

          2017   2016                                 
           Jan    Dec    Nov     Oct    Sep    Aug    July
 Value    -0.9   -2.9   -5.4^   -2.9   -4.0   -10.5   -7.7
 Volume   -1.4   -2.9^  -5.5^   -2.7   -3.8   -11.0   -7.0
 
 ^ Revised

    CONTEXT:
    -- In the three months through January, the volume of sales
was down 2.9 percent, seasonally adjusted, from the preceding
three months.
    
    COMMENTARY:
    A government spokesman said retail sales showed a narrower
year-on-year decline in January 2017. However, the figures for
January may be somewhat affected by the difference in timing of
the Lunar New Year, which fell in late January this year but
early February last year. It would thus be more meaningful to
examine the figures for January and February combined, when
available, to have a clearer picture of the underlying trend. 
     Looking ahead, the near-term outlook for the retail sales
business will continue to depend on the performance of inbound
tourism and on whether local consumer sentiment would be
affected by the various uncertainties in the external
environment. 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/2lYX2wh
    
    

 (Reporting by Twinnie Siu in HONG KONG; Editing by Jacqueline
Wong)
  

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