Oct tourist arrivals up 18.3 vs Sept39;s 10.5 rise yy
Oct jewellery sales down 11.1 yy vs Sept39;s 17.9 decline
Govt China39;s measures on economy to support consumption
HONG KONG, Nov 29 Reuters Hong Kong39;s October retail sales fell 2.9 from a year earlier, reflecting a change in consumption patterns, government data showed on Friday.
Sales fell to HK32.9 billion 4.23 billion in an eighth consecutive month of decline after a 6.9 slump in September and 10.0 decline in August.
The Mainland39;s China39;s recent introduction of various measures to boost the economy would help support consumption sentiment and economic activities in Hong Kong, a government spokesperson said, adding that the change in consumption patterns would pose a constraint.
China39;s measures, including resumption of a multipleentry visitors39; scheme for Shenzhen residents to Hong Kong, would support spending, the government said.
In volume terms, October retail sales fell 4.9 from a year earlier compared with an 8.7 fall in September.
For the first 10 months of 2024, total retail sales value decreased 7.1 compared to the same period in 2023, while the volume of total retail sales fell 8.8, according to provisional estimates.
China has eased visa restrictions for Shenzhen residents visiting Hong Kong effective Dec. 1 and Zhuhai residents visiting Macau effective Jan. 1.
October visitor arrivals stood at 4.09 million, up 18.3 from the same month a year ago, data from the Hong Kong Tourism…