Hong Kong’s September retail sales fell 6.9 per cent year on year, reflecting the continued impact of a change in consumption patterns, government data showed.

Sales fell to HK$29.57 billion ($3.8 billion) in a seventh consecutive month of decline after a revised 10 per cent decline in August, an 11.7 per cent fall in July, a 9.7 per cent fall in June, an 11.5 per cent drop in May, a 14.7 per cent drop in April and a 7 per cent decline in March.

A government spokesman said the near-term performance of the retail sector would continue to be affected by the change in consumption patterns of residents and visitors.

“Nevertheless, an improved outlook for the Mainland economy following the recent introduction of a wide range of stimulus measures, and a possible easing of the Hong Kong dollar alongside the US dollar with the commencement of the US interest rate cut, would be conducive to boosting sentiment and supporting spending.”

The largest rate of decline in Hong Kong retail sales in September was in the jewellery, watches and valuable gifts category, where turnover fell by 17.9 per cent. 

In volume terms, retail sales fell 8.7 per cent year-on-year in September, compared with a revised 11.7 per cent in August.