Read More
Hong Kong's retail sales rose by 4.6 percent in June, marking their 14th consecutive month of growth, but remained below market estimates amid external uncertainties.
ADVERTISEMENT
SCROLL TO CONTINUE WITH CONTENT
That compared to an increase of 8.5 percent for the month forecast by economists, and a revised growth estimate of 7.9 percent in May.
For the first half of 2026, retail sales grew by 9.6 percent from the year prior, according to data from the Census and Statistics Department on Tuesday.
In June, total retail sales value amounted to HK$31.5 billion.
In volume terms, retail sales gained 2.3 percent in the month after netting out the effect of price changes, also slower than the revised estimate of a 4.8 percent increase in May.
Analyzed by type, sales of jewellery, watches and clocks, and valuable gifts increased by 20.1 percent in the month, followed by a 9.3 percent rise in other consumer goods and a 2.5 percent growth in food, alcoholic drinks and tobacco.
On the other hand, supermarket sales dipped by 1.1 percent in June, while sales in department stores slid 4.2 percent. Fuel sales also plunged 15.3 percent as prices climbed.
Looking ahead, continued economic expansion, rising local incomes, and a steady increase in inbound visitors are expected to provide support to the sector, a government spokesman said.
Yet, external uncertainties constitute downside risk and the government will continue to closely monitor the potential impacts of external developments on the local consumption market, he added.
Hong Kong’s economy expanded by 4.3 percent in the second quarter, according to the government’s advance estimates, also missing the market expectation of a 4.9 percent growth.
