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Hong Kong Retail Sales Plunge Again in March on Virus Curbs

Hong Kong’s retail landlords are bracing for a further squeeze on the lowest rents in more than a decade as tenants seek relief in the aftermath of the city’s worst Covid outbreak.
The fall in sales value from a year earlier was worse than the median estimate of a 12.6 percent decline expected by economists in a survey, though it was less than the 14.6 percent drop in February. (Shutterstock)

Hong Kong’s retail sales plummeted 13.8 percent in March, the first back-to-back contraction in more than a year as stringent virus restrictions weighed heavily on the economy and crushed consumer spending.

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