Latest reading: Retail sales increased 0.2% month on month in seasonally adjusted terms in May after stagnating in April, though...
Retail Sales in Hong Kong
The Hong Kong economy recorded an average growth rate of -2.6% in retail sales over the decade to 2024, above East & South Asia's average of 6.8%. In 2024, Hong Kong's retail sales growth was -9.0%.
Hong Kong Retail Chart
Note: This chart displays Retail Sales (ann. var. %) for Hong Kong from 2014 to 2024.
Source: Macrobond.
Hong Kong Retail Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Retail Sales (ann. var. %) | -25.5 | 6.5 | -3.3 | 13.8 | -9.0 |
Retail sales record quickest growth since December 2023 in May
Latest reading: Retail sales grew 1.9% year on year in May (April: -3.3% yoy). The print marked the best reading since December 2023 and put an end to fourteen straight contractions. The recovery was led by strong growth in clothing and department stores, while declines in fuel and consumer goods sales slowed. Meanwhile, the trend improved, with the annual average variation of retail sales coming in at minus 8.0%, up from April's minus 9.2%.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Hong Kong retail projections for the next ten years from a panel of 1 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable retail forecast available for Hong Kong retail.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Hong Kong retail projections.
Want to get access to the full dataset of Hong Kong retail forecasts? Send an email to info@focus-economics.com.
Latest Global Retail News
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Australia: Retail sales return to growth in May -
Hong Kong: Retail sales record quickest growth since December 2023 in May Latest reading: Retail sales grew 1.9% year on year in May (April: -3.3% yoy). The print marked the best reading... -
Switzerland: Retail sales fall at sharpest rate since September 2024 in May Latest reading: Retail sales fell 0.6% month-on-month in seasonally adjusted terms in May (April: -0.2% mom). The result marked the... -
Spain: Retail sales growth ebbs in May Latest reading: Retail sales increased 0.2% in month-on-month seasonally adjusted terms in May, which was a deterioration from April’s 0.8%... -
Luxembourg: Retail sales deteriorates in May Latest reading: Retail sales dropped 0.1% month-on-month in seasonally adjusted terms in May (April: +0.9% mom s.a.). On an annual... -
Poland: Retail sales growth deteriorates in May Latest reading: Retail sales increased 4.4% year on year in May (April: +7.6% yoy). Looking at the details of the... -
United Kingdom: Retail sales fall at sharpest pace since December 2023 in May Latest reading: Retail sales fell 2.7% month-on-month in seasonally adjusted terms in May (April: +1.3% mom). The outturn marked the...