Retail sales in Hong Kong declined 4.9 percent year-on-year in May of 2022, compared to a downwardly revised 8 percent rise in April. Sales fell sharply at supermarkets (-8.4 percent vs 2.3 percent), and department stores (-6.4 percent vs 8.4 percent). The worst hit outlets were consumer durable goods (-11.4 percent vs +28.3 percent); and clothing, footwear and allied products (-7.6 percent vs -1.9 percent). Also, sales continued to fall for food, alcoholic beverages and tobacco (-2.9 percent vs -1.5 percent); fuels (-12.1 percent vs -13.5 percent) while eased for jewellery, watches, clocks and valuable gifts (3.1 percent vs 6.5 percent). However, looking ahead, the government affirmed that as long as the local epidemic situation remains under control, retail businesses should continue to revive. source: Census and Statistics Department, Hong Kong
Retail Sales YoY in Hong Kong averaged 2.57 percent from 2005 until 2022, reaching an all time high of 31.60 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 June 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.