HONG KONG (China Daily/ANN): Hong Kong retail sales are expected to decline 2.5 per cent year-on-year to HK$420 billion in 2020, as current uncertainties continue to weaken consumption and reduce tourist arrivals, business services firm PwC predicted.
Annual retail sales for 2019 are estimated to decline by 11.2 per cent to HK$431 billion, after local consumer market suffering badly from the second half of 2019 with October recording a 24.3 per cent decrease in sales – the largest monthly decline on record.
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