Hong Kong’s retail activity extended a decline in April as the coronavirus pandemic continued to constrain global travel.
The city’s retail sales by value fell 36.1% from year-ago levels to HK$24.1 billion ($3.1 billion), for a 15th consecutive monthly decline, according to a government release. That’s ahead of the median economists’ forecast for a 40% slump, according to data compiled by Bloomberg. Retail sales by volume also fell 37.5% from a year earlier.
The latest slide comes after unprecedented declines of more than 40% in February and March amid the height of efforts to contain the coronavirus crisis.