Hong Kong: Retail sales growth loses pace in April
June 1, 2021
Retail sales increased 10.9% year-on-year in April (March: +19.9% yoy). The figure largely reflected a larger fall in food and alcoholic beverages sales. However, fuel sales gained steam. Lastly, jewelry, watches and valuables sales rose at a stronger rate, while clothing and footwear sales decelerated.
Meanwhile, the trend improved sizably, with the annual average variation of retail sales coming in at minus 7.5%, up from March's minus 11.5%.
Author: Steven Burke, Economist