Retail sales in July in Hong Kong fell 7.7 percent to 34.6 billion Hong Kong dollars, or $4.46 billion at current exchange, Hong Kong’s Census and Statistics Department said Monday. That figure represents an improvement over June, when sales dropped 8.9 percent. Looking at the first six months of the year, sales sank 10.5 percent, registering their deepest fall since 1999.
“The performance in July was mainly dragged by the fall in visitor spending on some big-ticket items, and also reflected the more cautious local consumer sentiment amid an uncertain economic outlook,” the department said.
In terms of product categories, sales of jewelry, watches and clocks, and valuable gifts decreased by 26.2 percent in July. Sales of footwear and accessories slid 1.1 percent.
Apparel and beauty fared better. Sales of apparel grew 1.8 percent while that of medicines and cosmetics rose 9 percent.