Retail sales in Hong Kong fell 9.7% YoY in June to HK$29.9 billion ($3.8 billion), a fourth consecutive month of decline, according to official data. For the first half of 2024, retail sales dropped 6.6% YoY. A government spokesperson noted that while the overall value of retail sales decreased, the decline has narrowed compared to the significant drops of 12.9% in May and 16.5% in April. Hong Kong Retail Management Association Chairwoman Annie Yau Tse predicts that retail performance will remain weak through the end of the year.