Join our WhatsApp group for updates. Join WhatsApp updates ↗
Join the WhatsApp property list for Hong Kong property updates. Join the property list ↗
Hong Kong’s retail sales reached a provisional HK$32.1 billion in August, up 5.6% from a year earlier, according to figures released by the Census and Statistics Department on 2 October.
That marked the 16th consecutive month of annual growth. After adjusting for price changes, sales volume increased by 2.9%.
However, the shorter-term picture was weaker. Seasonally adjusted sales value fell 4.6% in the three months ending August compared with the previous three months. Sales volume dropped 3.4% over the same period.
The two comparisons measure different things: sales can exceed last year’s level while declining against the preceding three-month period.
These figures also have limits. They measure goods sold by local retailers, including purchases by visitors, but exclude services such as restaurant meals and transport, as well as residents’ spending overseas. They therefore do not measure overall consumer spending.
