Hong Kong retail sales fall 4.2% in November, snapping two months of growth

HONG KONG – Hong Kong’s November retail sales fell 4.2 percent from a year earlier, snapping two straight months of growth with tightened financial conditions weighing on local demand, government data showed on Wednesday.

Sales dropped to HK$29.5 billion ($3.77 billion). That compared with a revised 4 percent growth in October.

In volume terms, retail sales decreased 5.3 percent year-on-year in November. That compared with a revised 2.5 percent increase in October.