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August 4, 2009

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Home » Business » Consumer

HK retail sales value falls 4.8%

HONG Kong's monthly retail sales value in June fell to HK$21.1 billion (US$2.72 billion), down 4.8 percent from the same month last year, the Special Administrative Region government said yesterday.

Total retail sales in the first half of the year fell 4.5 percent in value, or 5.4 percent in volume when compared with the same period last year, its Census and Statistics Department said.

Despite the year-on-year reduction, consumer confidence has firmly held up in recent months, as retail sales declined at a slower pace in June than the previous month, a government spokesman said.

He said although the near-term outlook for retail business has continued to be affected by the uncertainties surrounding the pace of economic recovery and the impact of H1N1 infections, the recent stabilization of the overall economic situation, the HK government's additional relief measures and the better performance of asset markets have all given some support to the retail sector.


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