Hong Kong Retail Sales Growth Slows in November

Retail sales in Hong Kong rose by 5.1% year-on-year in December 2025, picking up from a three-month low of 4.1% in the previous month. Sales continued to decline for food, alcoholic beverages, and tobacco (-0.4% vs -0.1% in November) and fuels (-22.3% vs -17%), while it slipped for clothing and footwear (-7.6% vs 1.6%) and department stores (-3.3% vs 3.1%). In addition, sales moderated for other consumer goods (4.7% vs 5.2%). Meanwhile, sales rebounded for supermarkets (0.6% vs -3.5%) and jewelry, watches, clocks, and valuable gifts (1.2% vs -5.9%), while it increased at a faster pace for consumer durable goods (39.6% vs 27.6%). On a monthly basis, retail activity increased 3.9%, recovering from a 4.1% fall in the previous month.

Retail sales in Hong Kong rose 4.4% year-on-year in November 2025, marking a modest pace in three months and slowing from a 5.3% increase in October. The slowdown was largely driven by declines in food, alcoholic beverages, and tobacco (-0.1% vs 3.8% in October), jewelry, watches, clocks, and valuable goods (-5.9% vs 0.8%), and fuel (-17.0% vs -8.9%), alongside slower growth in department stores (3.2% vs 6.3%) and other consumer goods (5.2% vs 5.5%). In contrast, retail activity picked up in clothing, footwear, and allied products (1.6% vs 1.4%) and consumer durable goods (27.6% vs 17.2%). On a monthly basis, sales fell 4.1% in November, reversing a 11.5% gain in October.

Retail sales in Hong Kong rose by 5.3% year-on-year in October 2025, accelerating from a 4.8% gain in the previous month. It marked the strongest growth since November 2023, driven by higher sales of food, alcoholic beverages, and tobacco (3.8% vs 1.7% in September) and department stores (6.3% vs 2.6%). Trade in clothing, footwear, and allied products also rebounded (1.4% vs -7.8%), while fuel sales declined at a slower pace (-8.9% vs -14.5%). Conversely, sales moderated for consumer durable goods (17.1% vs 21%), jewelry, watches, clocks, and valuable goods (0.9% vs 6%), as well as other consumer goods (5.6% vs 5.7%). In addition, supermarket sales declined notably (-3.5% vs -0.4%). On a monthly basis, retail activity climbed 11.5% in October, from 2.7% in the prior month, marking the highest monthly increase since December 2022.