Hong Kong Retail Sales Growth at 5-Month Low

Retail sales in Hong Kong surged 17.5% year-on-year in February 2026, accelerating from an upwardly revised 3.5% in January. This marks the highest level since April 2023, as consumer spending reaches higher volatility during the Chinese New Year festival. Sales increased for food, alcoholic beverages and tobacco (17.6% versus -11.3%), supermarkets (14.2% versus -5.7%), clothing and footwear and allied products (18.9% versus 4.1%) and department stores (31.8% versus -9.9%). In contrast, fuel sales declined by 18.3%, easing from a decline of 25% in the previous month. Additionally, sales growth slowed for consumer durable goods (24.1% versus 37%) and jewelry, watches, clocks and valuable gifts (4.4% versus 10.8%). For the first two months of the year, retail sales in Hong Kong rose 9.5% compared to the same period a year earlier. On a monthly basis, retail sales declined 6%, reversing a 6.5% gain in January.

Retail sales in Hong Kong rose by 3.4% year-on-year in January 2026, slowing from a 5.1% increase in the previous month. This marked the softest growth since August, mainly driven by declines in sales for food, alcoholic drinks and tobacco (-10.8% vs -0.4% in December), supermarkets (-5.7% vs 0.6%), fuels (-25% vs -21.9%), and department stores (-9.9% vs -4.8%). Additionally, turnover increased at a slower pace for other consumer goods (2.4% vs 5.3%). Sales growth for consumer durable goods also eased but remained elevated (34.3% vs 39.6%). In contrast, activity accelerated for clothing, footwear and allied products (5.3% vs -8.4%) and jewellery, watches and clocks, and valuable gifts (10.8% vs 1.2%). On a monthly basis, retail sales advanced by 6.5% in January, following a 3.8% gain in the preceding period.

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.