Retail sales volume in Hong Kong went down 0.8 percent year-on-year in March of 2019, following an upwardly revised 10.5 percent fall in the previous month. It was the second straight month of drop in retail sales, as sales continued to decline for clothing, footwear & allied products (-2.1 percent vs -9.1 percent in February); consumer durable goods (-7.5 percent vs -17.5 percent) and jewellery, watches & clocks (-1.7 percent vs -9.1 percent). On the other hand, sales rebounded for food, alcoholic drinks and tobacco (0.1 percent vs -18 percent); fuels (2.3 percent vs -3.4 percent) and other consumer goods (1.7 percent vs -8.5 percent). On a monthly basis, retail sales went down 3.3 percent, after decreasing 15.3 percent in the prior month Retail Sales YoY in Hong Kong averaged 5.47 percent from 2005 until 2019, reaching an all time high of 30.60 percent in February of 2010 and a record low of -18.50 percent in February of 2016.
Retail Sales YoY in Hong Kong is expected to be 6.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Hong Kong to stand at 4.40 in 12 months time. In the long-term, the Hong Kong Retail Sales YoY is projected to trend around 4.40 percent in 2020, according to our econometric models.