Retail, restaurant sales down in Hong Kong
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Hong Kong’s monthly retail sales fell 4.8% year-on-year in June, to HK$21.1 billion (US$2.7 billion), Xinhua reported the region’s government as saying. Total retail sales in the first half of the year fell 4.5% in value or 5.4% in volume when compared with the same period last year, according to data from the Census and Statistics Department.
A government spokesperson was reported saying that despite the decline, consumer confidence has held up in recent months, with June’s retail sales showing a smaller year-on-year decline than in May. The spokesperson added that the HK government’s additional relief measures and the better performance of asset markets have all given some support to the retail trade.
Meanwhile, the Census & Statistics Department also reported that the value of total receipts for Hong Kong’s restaurant sector totalled HK$19.2 billion (US$2.5 billion) in the second quarter of 2009, down 0.7% year-on-year. Total receipts of fast food shops grew 2%, while total receipts of bars dropped 2.3%.
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