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%.
Author: Steven Burke, Economist