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.