Hong Kong Retail November 2020

Hong Kong

Hong Kong: Decline in retail sales softens to 18-month low in November

January 4, 2021

Retail sales slid 4.7% compared to the same month a year earlier in November, which was markedly softer than October's 9.3% decrease. The figure marked the smallest decline since May 2019 and was driven by a softer drop in jewellery, watches and valuables sales. In contrast, fuel, supermarkets, clothing and footwear, and food and non-alcoholic beverages sales all deteriorated in November.

Meanwhile, the trend improved, with the annual average variation of retail sales coming in at minus 24.7% in November, up from October's minus 26.4% reading.

FocusEconomics Consensus Forecast panelists project real retail sales to increase 11.5% in 2021, which is up 3.1 percentage points from last month’s forecast.


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Hong Kong Retail Chart

Hong Kong Retail October 20 20 0

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

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