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Hong Kong Retail Slide Continued in August Amid Restrictions

  • Decline in retail sales by value narrowed to 13.1% in August
  • Improvement largely from low base of comparison, report says
Pedestrians walk along Russell Street in the Causeway Bay district of Hong Kong, on Aug. 29.

Pedestrians walk along Russell Street in the Causeway Bay district of Hong Kong, on Aug. 29.

Photographer: Chan Long Hei/Bloomberg
Updated on

Hong Kong retailers’ struggles eased slightly in August even as social-distancing measures were extended to combat the latest wave of coronavirus infections in the city.

Retail sales by value fell 13.1% from a year earlier to HK$25.6 billion ($3.3 billion), according to a government statement. That’s better than the median forecast for a 17.5% decline in the period, according to economists surveyed by Bloomberg. Retail sales by volume also dropped 13.4% from year-ago levels, an improvement on the 23.8% decline in July, the report said.