Moderate Rebound in US Retail Sales in February 2023

Retail sales in the United States showed a moderate increase in February 2023 despite persistent inflation and high interest rates that continue to pressure consumers. According to the U.S. Department of Commerce, retail sales rose by 0.3% compared to January, a positive signal for the economy considering the challenging conditions faced by American households.

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Retail Crisis in Hong Kong: Plummeting Rents and Empty Stores

In Hong Kong, there is a sharp decline in retail activity due to changing consumer habits among the Chinese populace. According to Bloomberg, many shops are sitting empty, and commercial rent prices are dropping to record lows. This phenomenon is a consequence of a crisis worsened by economic instability and a growing frugality among local residents.

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