March Hong Kong retail sales tipped to decline
March retail sales are expected to decline again – albeit by a modest amount.
That’s the projection of the HKRMA, tagged on to its review of the February sales data, reported earlier by Inside Retail Hong Kong.
The association said early feedback from member retailers suggested a “low single-digit” decline.
As previously reported, Hong Kong retail sales continued their downward trend (by 5.7 per cent in value and 6.1 per cent in volume) in February 2017. And when combined with January data – to give a more accurate year-on-year comparison taking into account the timing of Lunar New Year, by 3.2 per cent in value and 3.6 per cent in volume.
Jewellery, watches and clocks and valuable gifts registered positive sales growth in value in February – up 2.5 per cent.