Hong Kong: Retail sales slow in April
Latest reading: Retail sales were up 6.4% in annual terms in April, following a 9.9% rise in the prior month. This was the tenth straight month of growth after a prolonged period of contraction, though sales are still well below their 2018 peak.
Relative to the prior month’s figures, readings in April worsened for fuel (-27.9% in annual terms vs -27.5% in March), food and alcoholic beverages (-1.0% vs -0.4% in March) and clothing and footwear (+5.9% vs +7.8% in March). In contrast, the reading for supermarkets improved in April (+2.3% vs -0.1% in March). Finally, the variation in jewelry, watches and valuables was the same as in the prior month (+6.4% in April and March).