Hong Kong retail sales, a key part of the city's economy, felt a growing im...
HONG KONG - Hong Kong retail sales, a key part of the city’s economy, felt a growing impact in June from mass protests, government data showed on Thursday.
Protests against a proposed extradition law began in late April and widened in June, though they remained peaceful until July, when there was violence at some demonstrations. “The near-term performance of retail sales will likely remain subdued, as the weakened global and local economic outlook and other headwinds continue to weigh on consumption sentiment,” a government spokesman said after release of the June retail data.
On Wednesday, Hong Kong reported its economy had 0.6% annual growth in the second quarter, below the average forecast of 1.6% from five economists. Tourism, especially from mainland China, has dropped markedly. Britain, Japan, Singapore and others have issued travel alerts. [nL4N24V2LB}
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