Hong Kong February retail sales value drops 13% y/y

(Reuters) – Hong Kong’s retail sales by value fell by 13% in February from a year earlier, marking an 12th consecutive month of declines, government data showed on Monday.

Sales declined to HK$29.4 billion ($3.78 billion), with the percentage change widening from a revised 3.1% fall in January, reflecting the earlier arrival of the Lunar New Year this year.

In volume terms, February retail sales fell 15% from a year earlier, compared with a revised 5.1% decline in January.

($1 = 7.7795 Hong Kong dollars)

(Reporting by Hong Kong newsroom; Editing by Louise Heavens)