August 1, 2019 / 8:56 AM / 2 months ago

Hong Kong June retail sales fall 6.7% y/y, steepest drop since February

HONG KONG, Aug 1 (Reuters) - Hong Kong’s June retail sales fell 6.7% from a year earlier in value terms, in their biggest decline since February, government data showed on Thursday, as local consumer sentiment turned cautious and growth in visitor arrivals moderated.

Retail sales fell to HK$35.2 billion ($4.50 billion), marking a fifth consecutive month of annual declines. For May, the drop was revisied to 1.4%.

In volume terms, retail sales in June fell 7.6%, compared with a revised 1.8% fall in May.

For the first half of 2019, retail sales fell 2.6% in value from a year earlier. It was down 3.1% in volume terms.

$1 = 7.8259 Hong Kong dollars Reporting by Donny Kwok and Twinnie Siu; Editing by xxx

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