. It was the tenth consecutive month of declines and compared with a revised 24.4 per cent drop in October, which was the steepest on record.
“The near-term outlook for the retail trade continues to hinge on how the local social incidents will evolve,” a government spokesman said. Hong Kong sank into recession for the first time in a decade in the third quarter, as the protests plunged the city into its worst crisis since it reverted from British to Chinese rule in 1997.
globebusiness Yes, riots in the street effect foot traffic.
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