According to the released data, Hong Kong’s retail sales in August fell by 10.1% YoY to HK$29.2 billion ($3.73 billion), the sixth consecutive month of decline. In the first eight months of this year, retail sales decreased by 7.7% YoY, primarily influenced by the strength of the Hong Kong dollar, changes in consumer spending patterns, and an increase in spending abroad. Data from the Hong Kong Tourism Board shows that the number of visitors to Hong Kong increased by 9.2% in August, reaching 4.45 million. However, sales of jewelry, watches, and luxury gifts fell by 24%, while sales of clothing, footwear, and accessories dropped by 12.3%.