In May, retail sales rose 5.8% over the same month last year. The print came in below both the 7.6% expansion seen in April and market analysts' expectations of a 6.7% increase. The reading marked, in fact, the lowest growth rate since February 2011. In seasonally adjusted terms, retail sales rose 2.8% in the three-month period ending in May compared to the previous period ending in February, which was below the 3.4% expansion recorded in April. A government spokesman noted that "while the job market conditions and inbound tourism would continue to render some support to the retail business, the rather adverse external environment amid the European debt crisis could weigh on consumer sentiment down the road". The government expects full-year economic growth to range from 1.0% to 3.0%.
Hong Kong Retail
Retail sales continue to lose momentum
July 3, 2012
Looking for forecasts related to Retail in Hong Kong? Download a sample report now.
Hong Kong Economic News
October 5, 2016
The Nikkei Hong Kong Purchasing Managers’ Index (PMI) released by IHS Markit rose from August’s 49.0 to 49.3 in September.
September 30, 2016
Hopes last month that a recovery in retail sales might be underway were dampened in August on the back of declining numbers of mainland tourists.
September 22, 2016
Inflation came in at 4.3% in August, which was notably above July’s 2.3%.
September 5, 2016
The Nikkei Hong Kong Purchasing Managers’ Index (PMI) released by IHS Markit climbed from July’s 47.2 to 49.0 in August.
August 29, 2016
Although tourist visitors increased for the first time in July after 13 months of successive drops, the effect on retail sales appears to have been limited.