Hong Kong's retail sales declined for the first time in three months and at the fastest pace in eight months in November, and tighter financial conditions are likely to continue damping consumption ahead, while a relaxation in Covid restrictions and an improvement in the labor market are expected to lent support.
The value of retail sales dropped 4.2 percent annually in November, after a 4.0 percent growth in October, provisional figures from the Census and Statistics Department showed on Tuesday. This was the worst decline since March, when sales fell 13.8 percent.
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