Hong Kong Retail Sales Growth Slows In April

New provisional government data suggests that local retail sales rose by double digits for a third straight month, in the longest such streak since late 2018.

However, the pace of increase slowed in April, with the value of sales gaining 12.1 percent over the same month in 2020; down from revised 20.2 percent year-on-year gain in March and a 30 percent jump in February.

In April, sales of jewellery and watches nearly doubled year on year. But the government said the data may be skewed because of a low base of comparison from a year ago, and sales volume remained far below pre-pandemic levels.

In fact, the Census and Statistics Department estimates that the value of retail sales have decreased by 2.8 percent from February to April, compared with the preceding three-month period.

Looking ahead, a spokesman said the near-term outlook for the retail trade is still challenging as inbound tourism will likely take time to recover.

A government spokesman said looking ahead, the near-term outlook for the retail trade remains challenging, as inbound tourism “will likely take time to recover amid the evolving global pandemic.”

He also renewed government calls for the community to get vaccinated “so as to create favourable conditions for a more visible revival of the retail trade and other consumer-facing activities.”