Retail sales in Hong Kong declined 4.1 percent year-on-year in June of 2022, compared to an upwardly revised 4.8 percent drop in May. Sales fell sharply for electrical goods and other consumer durable goods not elsewhere classified (-12.4 percent vs. -1.1 percent in May), clothing, footwear, and allied products (-10.8 percent vs. 7.6 percent), and alcoholic drinks and tobacco (-9.8 percent vs. -4.8 percent). However, the government affirmed that the upcoming disbursement of Phase II consumption vouchers would help support consumption demand. Still, retail sales performance down the road will also depend on how the local epidemic evolves and how the tighter financial conditions affect consumer spending power and sentiment. source: Census and Statistics Department, Hong Kong
Retail Sales YoY in Hong Kong averaged 2.55 percent from 2005 until 2022, reaching an all time high of 31 percent in February of 2021 and a record low of -46.70 percent in February of 2020. This page provides the latest reported value for - Hong Kong Retail Sales YoY - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Hong Kong Retail Sales YoY - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.
Retail Sales YoY in Hong Kong is expected to be 5.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hong Kong Retail Sales YoY is projected to trend around 4.50 percent in 2023, according to our econometric models.