Hong Kong retail sales growth slowed sharply in December, according to the latest government data. The figures indicate a significant deceleration in consumer spending compared to earlier in the year.

Key Factors Contributing to the Slowdown

• Changes in tourist spending patterns
• Impact of currency fluctuations
• Shifting consumer preferences

Analysis of Specific Retail Sectors

Certain retail sectors experienced more pronounced declines than others. Luxury goods and electronics were particularly affected by the slowdown.

The government is closely monitoring the situation and assessing the potential impact on the overall economy. Further measures may be considered to support the retail sector if the trend continues.