Hong Kong released the latest retail sales figures on August 30. The provisional estimate for total retail sales value in July was HK$29.1 billion ($3.72 billion), down 11.8% YoY. The revised estimate for June indicated a 9.7% YoY decrease. Compared to the same period in 2023, the provisional estimate for the total retail sales value for the first seven months of 2024 dropped by 7.3%. A government spokesperson noted that the decline in July was further impacted by changes in consumer patterns and the persistently high HK dollar exchange rates, with an increase in residents traveling abroad during the summer holidays also contributing to the drop.