Hong Kong retail sales decline for the 23rd month

Sales fell 0.9% in January.

According to CNBC, the story for retail in Hong Kong is not exactly new, and it's not exactly rosy.

Continuing the decline for the 23rd month, the territory's retail sales for the month of January fell 0.9 percent on year. The drop is smaller than in December, but that could be the effect of the Chinese Lunar New Year holiday falling in January rather than February.

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