Retail Sales in Hong Kong
Hong Kong - Retail Sales
Decline in retail sales softens in June
Retail sales fell 25.4% compared to the same month a year earlier in June, which was markedly softer than May's 34.0% decrease. The figure also marked the smallest drop since January.
The smaller drop was partly driven by a faster increase in fuel sales. Jewelry, watches and valuables sales also dropped at a softer pace. In contrast, growth in supermarkets sales decelerated.
The annual average variation in retails sales deteriorated to minus 28.5% in June, below May’s minus 27.0%.
FocusEconomics Consensus Forecast panelists project retail sales to decrease 21.0% in 2020, which is down 0.7 percentage points from last month’s forecast. For 2021, the panel sees retail sales growing 5.6%.
Hong Kong - Retail Sales Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Retail Sales (annual variation in %) | -1.5 | -7.1 | 1.9 | 7.6 | -12.3 |
Hong Kong Retail Sales Chart
Source: Census and Statistics Department Hong Kong and FocusEconomics calculations.
Hong Kong Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.82 | 3.38 % | Dec 31 |
| Exchange Rate | 7.79 | -0.11 % | Jan 01 |
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Economic News
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Hong Kong: Decline in retail sales softens in June
July 30, 2020
Retail sales fell 25.4% compared to the same month a year earlier in June, which was markedly softer than May's 34.0% decrease.
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Hong Kong: GDP plunges at sharpest rate on record in Q2
July 29, 2020
The economy contracted 9.0% in year-on-year seasonally-adjusted (yoysa) terms in the second quarter, resulting in the second fastest contraction since current records began—only marginally slower than Q1’s 9.1% decline—according to advance estimates.
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Hong Kong: Inflation falls to lowest level since March 2017 in June
July 21, 2020
Consumer prices were unchanged in June over the last month, matching the flat result seen in May.
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Hong Kong: Hong Kong security law comes into force, raising tensions with the U.S.
July 1, 2020
On 30 June, the new security law for Hong Kong came into force, which will increase Beijing’s hold over the territory.
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Hong Kong: Decline in retail sales softens slightly in May
June 30, 2020
Write intro here Retail sales fell 33.9% year-on-year in May (April: -37.5% yoy).
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