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Hong Kong Retail February 2023

Hong Kong: Retail sales notch quickest growth since February 2021 in February

Retail sales increased 29.6% in year-on-year terms in February, which was above January’s 5.1% increase. February’s figure marked the best reading since February 2021. The figure was largely due to improvements in clothing, jewelry and fuel sales.

Meanwhile, the trend improved, with the annual average variation of retail sales coming in at 0.9% in February, contrasting January’s minus 3.1% reading.

Looking at the January–February figures together to account for the impact of the Lunar New Year festivities—which were timed differently this year compared to last—shows a strong recovery in goods consumption so far this year, likely a product of surging visitor arrivals.

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