Hong Kong Retail June 2021

Hong Kong

Hong Kong: Retail sales record lowest growth since January in June

August 2, 2021

Retail sales grew 2.8% year-on-year in June (May: +7.8% yoy). The outturn marked the worst reading since January. The reading reflected a broad-based downturn across the major sectors, with fuel, supermarkets and food and alcoholic beverages all contracting in June. Lastly, jewelry, watches and valuables sales moderated, while clothing and footwear sales increased.

Meanwhile, the trend improved notably, with the annual average variation of retail sales coming in at minus 1.7% in June, up from May's minus 4.0%.

FocusEconomics Consensus Forecast panelists project real retail sales to increase 21.1% in 2021, which is unchanged from last month’s forecast. In 2022, panelists see retail sales up 10.2%.

Author:, Economist

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Hong Kong Retail Chart

Hong Kong Retail June 2021

Note: Year-on-year changes and annual average variation in %.
Source: Consensus and Statistics Department Hong Kong

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