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HK Jan Retail Sales -13.6% YoY, Steeper Than Assumed
The Census and Statistics Department (C&SD) announced that the value of total retail sales in January 2021, provisionally estimated at $32.6 billion, decreased by 13.6% compare...
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HK Jan Retail Sales -13.6% YoY, Steeper Than Assumed
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2021/03/03 16:37
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The Census and Statistics Department (C&SD) announced that the value of total retail sales in January 2021, provisionally estimated at $32.6 billion, decreased by 13.6% compared with the same month in 2020, against consensus of a 11.7% fall.

A government spokesman said that retail sales continued to post a notable year-on-year decline in January 2021 amid the fourth wave of the local epidemic. Yet the figure for January was conceivably distorted by the difference in timing of the Lunar New Year, which fell in mid-February this year but late January last year. It would thus be more meaningful to examine the figures for January and February combined, when available, to assess the latest retail sales performance.
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