Hong Kong Retail June 2020

Hong Kong

Hong Kong: Decline in retail sales softens in June

July 30, 2020

Retail sales fell 25.4% compared to the same month a year earlier in June, which was markedly softer than May's 34.0% decrease. The figure also marked the smallest drop since January.

The smaller drop was partly driven by a faster increase in fuel sales. Jewelry, watches and valuables sales also dropped at a softer pace. In contrast, growth in supermarkets sales decelerated.

The annual average variation in retails sales deteriorated to minus 28.5% in June, below May’s minus 27.0%.

FocusEconomics Consensus Forecast panelists project retail sales to decrease 21.0% in 2020, which is down 0.7 percentage points from last month’s forecast. For 2021, the panel sees retail sales growing 5.6%.


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Hong Kong Retail Chart

Hong Kong Retail June 20 20

Note: Year-on-year changes and annual average variation in %.
Source: Consensus and Statistics Department Hong Kong

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