Financial News: Hong Kong Retail Sales Fall 2.3%

Hong Kong Retail Sales Fall 2.3%

06/02/2025 - 09:01:00 (RTTNews)

(RTTNews) - Hong Kong's retail sales value declined at a slower pace in April, preliminary data from the Census and Statistics Department showed on Monday.

The value of retail sales fell 2.3 percent year-on-year in April, slower than the 3.5 percent drop in March. Sales have been falling since March 2024.

Online sales, which accounted for 8.1 percent of the total sales value in April, decreased by 3.5 percent from last year versus a 0.5 percent decline in the previous month.

Sales of consumer durable goods decreased 22.9 percent, and those of clothing, footwear, and allied products slid by 5.5 percent. Meanwhile, sales at department stores showed an increase of 2.1 percent.

"Looking ahead, the spokesman said that the Government's proactive promotion of tourism and mega events will help stimulate the consumption market," a government spokesman said.

Increase in employment earnings and sustained steady growth of the Mainland economy will also bolster consumption sentiment, and these factors will be supportive to the retail sector, though ongoing changes in consumption patterns and competition among businesses amid the uncertain macroeconomic environment will still pose challenges, the spokesman added.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

India Services Growth Remains Strong In May (06 min(s), 34 sec(s) ago)
(RTTNews) - India's service sector activity expanded at a broadly steady pace in May on the ba ...Full Story»

South Korea Inflation Slows More Than Forecast (10 min(s), 34 sec(s) ago)
(RTTNews) - South Korea's inflation softened more than expected to a five-month low in May, St ...Full Story»

European Economic News Preview: Eurozone Final Composite PMI Due (53 min(s), 34 sec(s) ago)
(RTTNews) - Composite Purchasing Managers' survey results from Eurozone and the UK are due on ...Full Story»

Australia GDP Adds 0.2% On Quarter In Q1 (05 min(s), 26 sec(s) ago)
(RTTNews) - Australia's gross domestic product expanded a seasonally adjusted 0.2 percent on q ...Full Story»

Australia Services PMI Ebbs In May - S&P Global (13 min(s), 26 sec(s) ago)
(RTTNews) - The services sector in Australia continued to expand in May, albeit it at a slower pac ...Full Story»

Australia GDP Data Due On Wednesday (01 min(s), 26 sec(s) ago)
(RTTNews) - Australia will on Wednesday release Q1 numbers for gross domestic product, highlightin ...Full Story»

U.S. Job Openings Unexpectedly Increase In April (31 min(s), 26 sec(s) ago)
(RTTNews) - Job openings in the U.S. unexpectedly increased in the month of April, according to a ...Full Story»

U.S. Factory Orders Pull Back Sharply In April (10 min(s), 26 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Tuesday showed a substantial pullback ...Full Story»