| Hong Kong's retail sales ebbs in September |
SHANGHAI, Nov 3 -- HONG Kong's retail sales unexpectedly rose at a slower pace in September as growth in tourist arrivals cooled. Retail sales rose 7.5 percent from a year earlier to HK$16.9 billion (US$2.2 billion) after gaining a revised 8.4 percent in August, the government said yesterday.
The figure lagged the 8.5 percent median estimate of 18 economists surveyed by Bloomberg News. Hong Kong received 2.4 percent more visitors in September than a year earlier, the smallest increase in more than a year, curbing sales at shops and restaurants. The city's residents may pick up the slack after unemployment fell to a five-year low and stocks reached a record, bolstering consumer confidence.
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