December 1, 2016 / 8:40 AM / a year ago

Hong Kong October retail sales fall for 20th straight month

Dec 1 (Reuters) - October retail sales data 
(percent change from a year earlier):
           2016                                           
            Oct    Sep    Aug   July   June    May   April
 Value      -2.9  -4.0^  -10.5  -7.7   -8.9   -8.3   -7.5
 Volume     -2.7  -3.8^  -11.0  -7.0   -7.9   -7.3   -6.2
 
 ^ Revised

    CONTEXT:
    -- In the three months through October, the volume of sales
rose by 1.5 percent, seasonally adjusted, from the preceding
three months.
    
    COMMENTARY:
     A government spokesman indicated that the year-on-year rate
of decline in retail sales narrowed further in October,
mirroring the similar performance of visitor arrivals in that
month. The stable job market and increasing household incomes
also rendered support to local consumer sentiment.
     Looking ahead, the near-term outlook for retail sales will
still hinge on the performance of inbound tourism as well as the
extent to which local consumer sentiment will be affected by the
various external uncertainties. The government will continue to
monitor closely retail sales performance and its possible impact
on the wider economy.

    LINK:
    -- To view the full details of retail sales data, see the 
Hong Kong government website at bit.ly/2fOfpzd
    
    

 (Reporting by Twinnie Siu in HONG KONG; Editing by Jacquelne
Wong)

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