Hong Kong Retail Sales Growth Slows In July, Says Retail Management Association

Hong Kong Retail Management Association chairwoman Annie Yau Tse said July retail sales still posted positive growth, but the performance was not ideal because the comparison base a year earlier was already low and sales were the weakest monthly reading this year, according to Ming Pao. She said bad weather in Hong Kong during the month hurt residents' willingness to go out and spend as well as tourists' appetite to visit, while more Hong Kong residents traveled abroad during the summer holiday. She added that changes in visitor spending patterns and lower per-capita spending also slowed the pace of growth in July retail sales.