Big June decline tipped in Hong Kong retail sales
While Hong Kong retail sales in April and May may have slowed by a more modest rate than in previous months, there is worse news to come.
According to the HKRMA, “most” member companies anticipate their retail sales performance would worsen further in June from May’s 8.4 per cent.
A note to the HKRMA’s monthly retail sales data release predicts a “double-digit decrease in June” when compared with the same month last year.
But the retail representative organisation did not comment further on reasons why June would be worse than April and May.
As reported by Inside Retail Hong Kong yesterday, May’s decline was one per cent higher than April’s and both months were below the the year-to-date figure of 10.8 per cent, and the 11.4 per cent of the first four months.
The HKRMA offered no further comment on the data.