Retail sales in Hong Kong slumped 13.4 percent over a year earlier in September of 2020, the same pace as in the previous month. It was the 20th consecutive month of falling retail activity, as the ongoing Covid-19 pandemic continued to hamper spending and tourism. Sales declined mostly for food, alcoholic drinks and tobacco (-13.4 percent vs -19 percent in August); jewellery, watches and clocks, and valuable gifts (-28.9 percent vs -41.4 percent); electrical goods and other consumer durable goods (-36.8 percent vs 14.6 percent); wearing apparel (-15.3 percent vs -23.4 percent); medicines and cosmetics (-45.6 percent vs -40.6 percent); clothing, footwear and allied products (-14 percent vs -25.6 percent); Chinese drugs and herbs (-5.6 percent vs -26.1 percent) and optical shops (-24.7 percent vs -33.2 percent). Considering the first nine months of the year, retail sales plummeted 30 percent compared with the same period of 2019. source: Census and Statistics Department, Hong Kong
Retail Sales YoY in Hong Kong averaged 2.66 percent from 2005 until 2020, reaching an all time high of 30.60 percent in February of 2010 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 November of 2020.
Retail Sales YoY in Hong Kong is expected to be 4.40 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 2021, according to our econometric models.