Hong Kong retail sales fall for 9 straight months, with 7.3% year-on-year drop in November

Hong Kong’s retail sales dropped for the ninth consecutive month in November, falling by 7.3 per cent year on year to HK$31.7 billion, according to provisional estimates from the Census and Statistics Department. Factors such as changing consumption patterns and a strong Hong Kong dollar were cited as reasons for the continued decline in total retail sales. Categories that experienced significant decreases in sales included apparel, jewellery, watches, motor vehicles, furniture, Chinese drugs, and electrical goods, while supermarket goods showed positive growth with a 3.5 per cent increase compared to the same period in 2023.

Full Article