Hong Kong skyline from above

Hong Kong Retail December 2018

Hong Kong: Retail sales nearly flatline in December, weighed on by mainland slowdown and trade worries

Retail sales by volume rose 0.2% in annual terms in December, decelerating from the meek 1.2% growth recorded in November. The near-flatlining was largely due to a sharper decline in sales of food, alcoholic drinks and tobacco (excluding supermarket sales), and a contraction in sales of consumer durable goods and luxury goods. On the other hand, the contraction in supermarket sales was less sharp than in November, and sales of fuel rebounded in the month.

On a seasonally-adjusted, three-month-moving-average basis, retail sales volume in the October–December period decreased 1.1% from the preceding three-month period ending in September. The decline was however less steep than the 1.8% fall recorded in the three-month period ending in November.

Lastly, annual average variation in retail sales volume for the year 2018 came in at 7.9%, down from 8.3% in the 12 months up to November.

Going forward, a government spokesperson noted that “retail sales performance would continue to be affected by the cautious consumption sentiment amid moderating global economic growth and the uncertainty stemming from the US-Mainland tensions in the near term, though the full employment situation and sustained expansion in visitor arrivals should provide some support”.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen