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Hong Kong August retail sales fall for 18th straight month
September 30, 2016 / 8:46 AM / a year ago

Hong Kong August retail sales fall for 18th straight month

Sept 30 (Reuters) - August retail sales data 
(percent change from a year earlier):

     2016   Aug   July   June    May    Apr    Mar     Feb
 Value     -10.5  -7.7   -8.9   -8.3   -7.5   -9.8    -20.6
 Volume    -12.7  -8.4^  -9.6   -8.8   -7.7   -8.8    -19.5
 
 ^ Revised

    CONTEXT:
    -- In the three months through August, the volume of sales
was down by 2.2 percent, seasonally adjusted, from the preceding
three months.

    
    COMMENTARY:
    A government spokesman indicated that the weak performance
of retail sales continued in August, reflecting the drag from
the decline in visitor arrivals in that month as well as the
cautious consumer sentiment amid an uncertain economic outlook.
     The near-term outlook for retail sales will still hinge on
the performance of inbound tourism and the extent to which local
consumer sentiment will be affected by various external
headwinds. 
    The Government will continue to monitor closely the retail
sales performance and its repercussions on the wider economy and
job market.

    LINK:
    -- To view the full details of retail sales data, see the 
Hong Kong government website at bit.ly/2drF6Vv
    
    

 (Reporting by Twinnie Siu in HONG KONG Editing by Vyas Mohan)

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