Hong Kong Feb retail sales fall 10.1 pct y/y, first drop since Feb 2017

| April 1, 2019

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Hong Kong’s retail sales fell in February, ending a 23-month expansion streak, government data showed on Monday, and the total for 2019’s first two months was less than a year earlier as economic uncertainties kept consumers cautious.Consumer spending traditionally surges before the Lunar New Year holidays, but this year much of that was done in January, as the holiday began on Feb. 5. In 2018, the holiday began Feb. 16, so the shopping spree was the first half of the month.Hong Kong consumers have become increasingly cautious amid protracted U.S.-China trade tensions, while a weaker Chinese yuan has also made the city an expensive place to shop.

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