Hong Kong June retail sales plunge 24.8% as spending, tourism evaporate – ZAWYA

Hong Kong June retail sales plunge 24.8% as spending, tourism evaporate – ZAWYA

Hong Kong June retail sales plunge 24.8% as spending, tourism evaporate Sales of jewellery, watches down 56.5% in June y/y    People wearing protective masks ride a lift at Times Square shopping centre, following the outbreak of the new coronavirus, in Hong Kong, China February 21, 2020.HONG KONG - Hong Kong's retail sales plunged 24.8% in June from a year earlier, falling for the 17th consecutive month as the coronavirus pandemic slammed the brakes on tourism and spending in the city.Small, sporadic anti-government protests have also weighed on business activity in the Chinese-ruled financial hub, where the virus has pushed many retailers and restaurant operators to the brink of collapse.Sales dropped to HK$26.5 billion ($3.42 billion), government data showed on Thursday. In May, they tumbled by a revised 32.9% in value.Small, sporadic anti-government protests have also weighed on business activity in the Chinese-ruled financial hub, where the virus has pushed many retailers and restaurant operators to the brink of collapse.HONG KONG - Hong Kong's retail sales plunged 24.8% in June from a year earlier, falling for the 17th consecutive month as the coronavirus pandemic slammed the brakes on tourism and spending in the city.Sales dropped to HK$26.5 billion ($3.42 billion),