Retail sales in Hong Kong dropped 4.7 percent year-on-year in November of 2020, the smallest decline since May of 2019, primarily due to a 22.3 percent jump in sales of consumer durable goods. Still, it is the 22nd straight month of falling retail sales as first social unrest and then the coronavirus pandemic kept tourists away. From January to November, retail sales went down 26.6 percent. Looking ahead, a government spokesman pointed out that as inbound tourism remains at a standstill, and the fourth wave of the local epidemic has weighed on local consumption sentiment since the latter part of November, the business environment of the retail trade will remain challenging in the near term. source: Census and Statistics Department, Hong Kong
Retail Sales YoY in Hong Kong averaged 2.56 percent from 2005 until 2020, reaching an all time high of 30.60 percent in February of 2010 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 January of 2021.
Retail Sales YoY in Hong Kong is expected to be 7.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Hong Kong to stand at 5.50 in 12 months time. In the long-term, the Hong Kong Retail Sales YoY is projected to trend around 4.50 percent in 2022, according to our econometric models.