RTTNews - Thursday, the Hong Kong Census and Statistics Department said in a report that the retail sales value decreased 6.2% year-over-year in May, after falling 4.3% in April, revised from 4.4% decline reported initially. Economists were looking for a decline of 8.8%.
In volume terms, retail sales dropped 6.4% annually in May, compared with a 5.4% fall in April, revised from 5.5% drop estimated in the preceding report. Economists had expected a drop of 8.7%.
For the first five months of the year, retail sales value declined 4.4% compared to the same period of the previous year. At the same time, retail sales volume dipped 5.6% over a year ago.
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