Hong Kong Retail July 2021

Hong Kong

Hong Kong: Retail sales growth continues to slow in July

September 3, 2021

Retail sales grew 0.9% year-on-year in July (June: +2.9% yoy). The outturn marked the worst reading since January. The reading reflected a sharper downturn in purchases for food and alcoholic beverages, and at supermarkets in July. That said, jewelry, watches and valuables, and clothing and footwear sales growth increased.

Meanwhile, the trend improved notably, with the annual average variation of retail sales coming in at 0.4% in July, up from June's minus 1.7%.

FocusEconomics Consensus Forecast panelists project real retail sales to increase 14.8% in 2021, which is down 3.0 percentage points from last month’s forecast. In 2022, panelists see retail sales up 10.9%.

Author:, Economist

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Hong Kong Retail Chart

Hong Kong Retail July 2021 0

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

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