Hong Kong’s retail uptick extends into November with sales climbing 6.5%
Sector’s growth marks third consecutive month of reaching above 6 per cent year on year, but industry leader warns against calling it ‘recovery’
Hong Kong’s retail uptick extended into November last year, with sales climbing by 6.5 per cent year on year as authorities pointed to improving local consumption, macroeconomic stability and growth in visitor numbers.
But an industry leader warned against framing the trend as a “recovery” due to the low starting point set by past sales and increases being driven by temporary seasonal boosts, adding that the sector was feeling cautious and experiencing mixed results over the traditional Christmas peak season.
Official figures released on Friday placed November’s provisional estimate for retail sales value at HK$33.7 billion (US$4.3 billion), the third consecutive month of growth above 6 per cent year on year.
“Retail sales sustained their recovery momentum in November,” a government spokesman said.
“Looking ahead, the gradual improvement in local consumption sentiment amid sustained economic growth, coupled with the vibrant growth in inbound visitors, will continue to benefit retail businesses.”
In the first 11 months last year, retail sales grew 0.4 per cent from the same period in 2024.