Hong Kong retail sales rise 8.6% in April, but ‘full recovery has yet to emerge’ Hong Kong’s retail sales rose by 8.6 per cent year on year in April, extending the upturn for a 12th consecutive month, although industry leaders warned that a broad-based recovery had yet to take hold, with gains driven by specific factors rather than a general rebound in consumer spending. Provisional figures released by the Census and Statistics Department on Tuesday showed retail sales reached HK$31.4 billion (US$4.3 billion) in April, compared with HK$28.9 billion a year earlier. Retail sales for the first four months of 2026 rose by 11.3 per cent from the same period last year. A government spokesman said growth was recorded across most major retail categories. “Looking ahead, the retail sector should continue to benefit from ongoing economic expansion, a notable increase in inbound visitors and resilient consumption sentiment,” he said, while noting authorities would remain alert to risks stemming from evolving geopolitical tensions. Among the stronger-performing segments, sales of motor vehicles and parts surged by 46.1 per cent, while electrical goods and other consumer durables rose by 21.9 per cent. Sales of jewellery, watches and clocks, and valuable gifts increased by 19.8 per cent, while other consumer goods climbed 14.2 per cent. However, department store sales fell by 6.7 per cent, while sales of Chinese drugs and herbs declined by 8.5 per cent. Fuel sales also dropped by 11.7 per cent from a year earlier. Annie Tse Yau On-yee, chairwoman of the Hong Kong Retail Management Association, cautioned against describing the sector as having fully recovered despite 12 consecutive months of growth. “I would not use the word ‘recovery’,” she said. “The worst period has definitely passed, and we have seen the market gradually climb back from the low point reached last year.” But she said a sustained rise in retail sales did not necessarily mean the sector had returned to its pre-pandemic operating environment. Residents continue to spend heavily across the border and travel overseas during holiday periods, while mainland visitors are coming to the city for leisure rather than shopping. As a result, retailers were seeing growth, but not the broad-based rebound that would signal a full recovery, she said. Tse said a fuller recovery would require both stronger local consumption and higher spending per visitor, rather than relying solely on rising arrival numbers. She added that April was traditionally one of the weakest months for retailers and that many residents had travelled abroad during the Easter and Ching Ming Festival holidays, leaving the local market relatively subdued. Although mainland tourists benefited from a three-day Ching Ming holiday and the Hong Kong Sevens rugby tournament had helped attract overseas visitors, retailers did not experience any particularly strong surge in spending during the month, she said. “For tourist spending, I would describe it as stable,” Tse said, adding that visitor numbers had not translated into the kind of shopping peaks seen in previous years. Tse said the strongest growth was concentrated in a handful of categories with specific drivers, rather than reflecting a broad improvement in consumer spending. Vehicle sales were boosted by a spillover effect after motorists rushed to buy electric vehicles before tax concessions expired on March 31, while electrical goods were supported by demand for new technology products linked to the artificial intelligence boom. She said the uneven performance across retail segments suggested the industry’s recovery remained uneven despite a year of general growth. The association expects retail sales to remain on an upwards trajectory this year, but forecast overall growth for 2026 will be in the single digits. The Tourism Board earlier said Hong Kong welcomed about 4.22 million visitors in April, up 10 per cent year on year. The increase was partly driven by major events, including the Hong Kong Sevens, while arrivals from long-haul markets rose by 20 per cent. In the first four months of 2026, visitor arrivals reached 18.52 million, up 15 per cent from the same period last year, with mainland Chinese visitors accounting for more than 14 million of the total. https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355689/hong-kong-retail-sales-rise-86-april-back-higher-visitor-arrivals?pgtype=live (ICE HONG KONG)

Fonte notizia: South China Morning Post