The volume of retail sales in Hong Kong shrank 21 percent year-on-year in December 2019, following an upwardly revised 25.5 percent slump in November. This was the eleventh consecutive month of downturn in retail activity as the impact of anti-government protests remained severe during the festive season along with a sharp fall in tourist arrivals from China. Sales continued to decrease primarily for jewellery, watches & clocks (-39.4 percent vs -46.9 percent in November); department stores (-26.3 percent vs -33.2 percent); medicines & cosmetics (-31.3 percent vs -34.7 percent; clothing, footwear (-19 percent vs -28.8 percent); electrical goods & other consumer durable goods (-15.1 percent vs-16.7 percent) and supermarkets (-9.7 percent vs -4.8 percent). In the fourth quarter of 2019, retail trade tumbled 24.1 percent compared to the same period a year ago, the largest quarterly decline on record. Considering the full year of 2019, retail sales fell 12.3 percent over a year ago.
Retail Sales YoY in Hong Kong averaged 4.33 percent from 2005 until 2019, reaching an all time high of 30.60 percent in February of 2010 and a record low of -26.40 percent in October of 2019. This page provides the latest reported value for - Hong Kong Retail Sales YoY - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Census and Statistics Department, Hong Kong
Retail Sales YoY in Hong Kong is expected to be -10.00 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 2021, according to our econometric models.