HONG KONG : Hong Kong's retail sales in June fell at a slower pace than the previous month, official data released on Tuesday showed, and the government plans more measures, including consumption vouchers, to provide support to the sector.
The government said retail sales performance improved in the second quarter but the momentum softened in the latter part of the period amid an increased number of local COVID-19 cases and a rise in interest rates. "Looking ahead, the upcoming disbursement of Phase II consumption vouchers will help support consumption demand," a government spokesman said, adding retail sales performance will also depend on how the local epidemic evolves and how tighter financial conditions affect spending power and sentiment.
However, sales of clothing, footwear and related products in June fell 4.6 per cent from a year earlier after a 1.7 per cent slide in May.
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