Hong Kong retail sales fell in November, watches and clocks, "plunge" 14.4%

The Census and Statistics Department (C & SD) released the latest figures on retail sales today (January 3).

The total estimated retail sales in November 2016 were tentatively estimated at $ 36 billion, down 5.5% over the same month of 2015, while the revised estimate of total retail sales in October 2016 is estimated to have decreased by 2.9% over the same month last year. Compared with the same period in 2015, the provisional estimate of total retail sales in the first 11 months of 2016 decreased by 8.6%.

Excluding the changes in prices during the period, the provisional estimate of total retail sales in November 2016 decreased by 5.6% over the same month last year. The revised estimate for the total retail sales in October 2016 is estimated to have dropped by 2.7% over the same month last year. Compared with the same period in 2015, the provisional estimate for total retail sales in the first 11 months of 2016 decreased by 7.6%.

Provisional estimates of sales by major retailer category ranged from high to low. Sales of jewelery, watches and clockwork and luxury gifts dropped 14.4% in November 2016 compared with November 2015, followed by supermarket items (sales (Down 15.2%); motor and photographic equipment (down 27.3%); motor vehicles and auto parts (down 15.5%); newspapers, stationery and gifts Down 5.8%); and optical shops (down 1.3%).

A Hong Kong government spokesman said retail sales in November slightly expanded year-on-year, which is believed to be dragged down by spending by some visiting tourists during the month on some of your products. However, the retail sales in October and November together, the decline is still less than the third quarter.