Hong Kong: Retail sales growth ebbs in November
January 3, 2022
Retail sales expanded 4.2% year-on-year in November (October: +9.4% yoy). The notable deterioration came on the back of contractions in supermarkets and food and alcoholic beverages sales. However, fuel sales bounced back. Lastly, jewelry, watches and valuables sales lost pace, while clothing and footwear sales gained momentum.
Meanwhile, the trend improved notably, with the annual average growth of retail sales coming in at plus 6.3% in November, up from October's 5.6%.
Author: Steven Burke, Economist