Hong Kong Retail September 2021

Hong Kong

Hong Kong: Retail sales growth wanes in September

November 4, 2021

Retail sales increased 55.5% in year-on-year terms in September, which followed August's 63.2% increase. September's slowdown was largely driven by a deterioration in fuel sales. Meanwhile, jewelry, watches and valuables sales lost pace, while clothing and footwear sales decelerated.

The trend improved significantly, with the annual average growth of retail sales coming in at plus 12.5% in September, up from August's 6.8%.

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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