Hong Kong’s November retail sales fell 4.2% from a year earlier, snapping two straight months of growth with tightened financial conditions weighing on local demand, government data showed on Wednesday.

Sales dropped to HK$29.5 billion ($3.77 billion). That compared with a revised 4% growth in October.

In volume terms, retail sales decreased 5.3% year-on-year in November. That compared with a revised 2.5% increase in October.