Years of grinding wage and price deflation are required to make them competitive again.
The sales rose a mere 2.9 percent from November 1994, as mild weather, price deflation and a slowing economy all played roles.
He famously quipped that price deflation can be fought by "dropping money out of a helicopter."
It was the weakest reading since March 1960, the last time Britain suffered a period of price deflation.
Despite having interest rates down near zero for a long period of time, the Quantitative easing strategy did not succeed in stopping price deflation.
Most economic hardship is concentrated in sectors suffering from severe price deflation.
Some economists worry that price deflation continues in Hong Kong.
Among these is the continued lack of consumer demand, which has led to steep price deflation in everything from cars to computers.
And the 1990'sare likely to be a prolonged period of price deflation, he said.
Mild weather at the end of last month, price deflation and a slowing economy all played a role, analysts said.