Hong Kong Economic and Trade Office, USA
Hong Kong
News Release



Provisional statistics of retail sales for March 2019

 



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May 3, 2019 - The Census and Statistics Department of the Hong Kong Special Administrative Region Government released the latest figures on retail sales today.

The value of total retail sales in March 2019, provisionally estimated at HK$39.7 billion (US$5 billion), edged down by 0.2% compared with the same month in 2018. The revised estimate of the combined value of total retail sales in January and February 2019 decreased by 1.6% compared with the same period a year earlier. For the first quarter of 2019, it was provisionally estimated that the value of total retail sales decreased by 1.2% compared with the same period in 2018.

After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales in March 2019 decreased by 0.8% compared with a year earlier. The revised estimate of the combined volume of total retail sales in January and February 2019 decreased by 1.9% compared with the same period a year earlier. For the first quarter of 2019, the provisional estimate of the total retail sales decreased by 1.6% in volume compared with the same period in 2018.

A government spokesman said that retail sales declined slightly on a year-on-year basis in March and in the first quarter as a whole, reflecting the cautious consumption sentiment amid various external uncertainties. Nevertheless, the decline in March narrowed somewhat from that in January and February combined.

The spokesman pointed out further that, looking forward, retail sales business should continue to be affected by various external uncertainties in the near term, but the largely stable labour market and the sustained growth in inbound tourism should provide some support. The Government will closely monitor the situation.

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