Sales decreased to HK$31.2 billion (US$3.99 billion), snapping 15 consecutive months of growth. Hong Kong visitor arrivals are increasing following the pandemic lockdown, helping to drive 2.7 percent growth in the local economy in the first quarter. In volume terms, retail sales decreased 8.6 percent year-on-year in March, compared with a 0.5 percent growth in February. For the first quarter of 2024, total retail sales decreased by 1.3 percent compared with the same period in 2023, while the volume of total retail sales fell 3.1 percent, according to provisional estimates. (US$1 = 7.8160 Hong Kong dollars)(Reuters)
