Retail sales in Hong Kong fell by 1.5% year-on-year in September of 2022, following a marginally revised 3% decline in the previous month. It was the second consecutive contraction, driven by the lower purchases in most sub-indexes led by food alcoholic drinks and tobacco products (-13.9%) such as bread, pastry, confectionery and biscuits (-24.9%), department stores (-19.9%), clothing and footwear (-10.2%), fuels (-7.8%), and supermarkets (-4.7%). Conversely, large increases in sales were reported from consumer durable goods (16.8%) such as motor vehicle parts (26.8%) and electrical goods and other consumer goods not elsewhere classified (18.2%). Looking ahead, the government pointed out that the consumption demand in the near term will be supported by the generally stable local epidemic situation, along with the improved labor market conditions and the consumption voucher scheme. However, constraints in financial conditions will progressively offset the positive effect. source: Census and Statistics Department, Hong Kong

Retail Sales YoY in Hong Kong averaged 2.49 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 November of 2022.

Retail Sales YoY in Hong Kong is expected to be -0.90 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 -1.20 percent in 2023 and 4.10 percent in 2024, according to our econometric models.

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Hong Kong Retail Sales YoY



Calendar GMT Actual Previous Consensus TEForecast
2022-09-30 08:30 AM Aug -2.9% 1.1% -2%
2022-11-01 08:30 AM Sep -1.5% -3% -1.3%
2022-12-01 08:30 AM Oct -1.5% -1.1%


Related Last Previous Unit Reference
Retail Sales YoY -1.50 -3.00 percent Sep 2022
Consumer Spending 458486.00 469734.00 HKD Million Sep 2022
Retail Sales MoM -1.30 1.20 percent Sep 2022

Hong Kong Retail Sales YoY
In Hong Kong, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.
Actual Previous Highest Lowest Dates Unit Frequency
-1.50 -3.00 31.00 -46.70 2005 - 2022 percent Monthly

News Stream
Hong Kong Retail Sales Slump for the 2nd Month
Retail sales in Hong Kong fell by 1.5% year-on-year in September of 2022, following a marginally revised 3% decline in the previous month. It was the second consecutive contraction, driven by the lower purchases in most sub-indexes led by food alcoholic drinks and tobacco products (-13.9%) such as bread, pastry, confectionery and biscuits (-24.9%), department stores (-19.9%), clothing and footwear (-10.2%), fuels (-7.8%), and supermarkets (-4.7%). Conversely, large increases in sales were reported from consumer durable goods (16.8%) such as motor vehicle parts (26.8%) and electrical goods and other consumer goods not elsewhere classified (18.2%). Looking ahead, the government pointed out that the consumption demand in the near term will be supported by the generally stable local epidemic situation, along with the improved labor market conditions and the consumption voucher scheme. However, constraints in financial conditions will progressively offset the positive effect.
2022-11-01
Hong Kong Retail Sales Drop in August
Retail sales in Hong Kong declined by 2.9% year-on-year in August of 2022, compared to an upwardly revised 1.1% increase in July. Sales fell in almost all major categories, primarily department stores (-14.8% vs -12.4% in July); clothing, footwear and allied products (-13.3% vs -4.1%); fuels (-7.1% vs -5.7%); supermarkets (-4.3% vs -1.9%) and food, alcoholic drinks and tobacco (-2.6% vs -3%). Conversely, increases were seen in sales of jewellery, watches and clocks, and valuable gifts (5.6% vs 33%) and consumer durable goods (7% vs -3.7%), mostly motor vehicles and parts (43.4% vs -11.8%). Looking ahead, a government spokesman pointed out that the moderating local epidemic situation, improving labour market conditions and the Phase II Consumption Voucher Scheme will continue to support consumption sentiment and demand in the near term, but the increasingly tight financial conditions will pose constraints.
2022-09-30
Hong Kong Retail Sales Continue to Fall in June
Retail sales in Hong Kong declined 4.1 percent year-on-year in June of 2022, compared to an upwardly revised 4.8 percent drop in May. Sales fell sharply for electrical goods and other consumer durable goods not elsewhere classified (-12.4 percent vs. -1.1 percent in May), clothing, footwear, and allied products (-10.8 percent vs. 7.6 percent), and alcoholic drinks and tobacco (-9.8 percent vs. -4.8 percent). However, the government affirmed that the upcoming disbursement of Phase II consumption vouchers would help support consumption demand. Still, retail sales performance down the road will also depend on how the local epidemic evolves and how the tighter financial conditions affect consumer spending power and sentiment.
2022-08-02