Hong Kong: Retail sales slow in November
Latest reading: Retail sales increased 4.4% in annual terms in November, following 5.4% growth in the previous month. This was the fifth straight month of growth after a prolonged period of contraction, though sales are still well below their 2018 peak.
Relative to the prior month’s figures, readings in November softened for fuel (-17.0% in annual terms vs -9.0% in October), food and alcoholic beverages (-0.1% vs +3.8% in October) and jewelry, watches and valuables (-5.9% vs +0.8% in October). In contrast, readings improved for supermarkets (-3.5% vs -3.6% in October) and clothing and footwear (+1.5% vs +1.4% in October).