Figures released by Hong Kong’s Census and Statistics Department, and quoted by IDEX Online, show that sales of jewelry, watches, clocks, and valuable gifts fell 8.3 % in Hong Kong last November. Total retail sales fell 4.2% year-on-year.
According to the report, a spokesman for the special administrative region’s government said “retail businesses softened in November following the improvement in the preceding month.”
The spokesperson said: “While tightened financial conditions will continue to weigh on local consumption demand, the further relaxation of social distancing measures and continued improvement in labor market conditions will provide support. In addition, the expected increase in visitor arrivals should benefit retail sales performance.”
