Retail sales in Hong Kong fell by 0.7 percent year-on-year in December of 2022, following a 5.3 percent fall in the previous month. It was the smallest drop since October of 2015, as sales rebounded for food, alcoholic drinks & tobacco (0.2 percent vs -3.8 percent in November), and other consumer goods (3.9 percent vs -7 percent). At the same time, sales declined at a softer pace for clothing, footwear & allied products (-4.6 percent vs -19.5 percent) and department stores (-8.6 percent vs -20.9 percent). Meanwhile, sales slowed for consumer durable goods (4.9 percent vs 10.5 percent). Looking ahead, the government noted that the return of economic activities from epidemic to normalcy and an expected increase in inbound visitors should bode well for retail sales performance, as improvement was seen in labour market conditions. source: Census and Statistics Department, Hong Kong
Retail Sales YoY in Hong Kong averaged 2.44 percent from 2005 until 2022, reaching an all time high of 31.00 percent in February of 2021 and a record low of -46.70 percent in February of 2020. 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. Hong Kong Retail Sales YoY - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.
Retail Sales YoY in Hong Kong is expected to be 5.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hong Kong Retail Sales YoY is projected to trend around 2.10 percent in 2024 and 2.40 percent in 2025, according to our econometric models.