Sales Outlook Grim in HK's Retail Sector

        0932 GMT [Dow Jones] Continued contraction in Hong Kong retail sales "clearly indicates a tough operating environment and depressing outlook for the sector at a time when luxury spending doesn't look so good in the eyes of today's political ideology in China," ANZ senior economist Raymond Yeung says. China's economic slowing is weighing down retail sales in Hong Kong, too. Five economists in a poll by The Wall Street Journal expected an increase of 7.3% but in reality the fall was 1.3% year over year by value in March because of a decline in spending on luxury goods, the government says. There was a 2.2% decline in February. (chester.yung@wsj.com; Twitter: @chester_yung )
        (END) Dow Jones Newswires

        May 02, 2014 05:32 ET (09:32 GMT)