Hong Kong Retail

Hong Kong

Hong Kong: Retail sales contraction steepens in September

November 2, 2015

In September, retail sales fell 3.2% over the same month last year, which was below the 0.1% decrease tallied in August and marked an eight-month low. September’s reading was mainly the result of a significant decline in sales of jewelry and commodities in department stores.

A government spokesman noted that, “looking ahead, retail business will likely be still constrained by the weak performance of inbound tourism in the near term. Much will also depend on how the dimmer global economic outlook will affect the economy and local consumer sentiment going forward.”

Retail sales fell a seasonally-adjusted 0.3% in the three-month period ending in September compared to the three-month period ending in June.

FocusEconomics Consensus Forecast panelists expect retail sales to expand 1.9% in 2015, which is down 1.9 percentage points from last month’s projection. Next year, the panel sees retail sales growing 1.6%, which is down 2.7 percentage points from last month’s estimate.

Author:, Economist

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Hong Kong Retail Chart

Hong Kong Retail September 2015

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

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