Consumer spending picks up in Hong Kong, with retail sales rising 5.6% in AugustHong Kong’s retail sales rose by 5.6 per cent year on year in August, with the latest figures showing consumer spending picking up after growth eased for two consecutive months.Retail sales value reached HK$32 billion (US$4.1 billion), according to provisional figures released by the Census and Statistics Department on Friday. Sales in the first eight months of the year rose by 8.5 per cent compared with the same period in 2025.“Growth was seen across many types of retail outlets, while online retail sales value grew notably, reflecting a continued shift in consumer spending towards digital channels,” a government spokesman said.The latest figures followed a 4.5 per cent increase in July, when sales reached HK$31 billion, the lowest monthly value recorded in the first seven months of the year. Growth had slowed from 7.9 per cent in May to 4.6 per cent in June.Sales of electrical goods and other consumer durables recorded the strongest increase in August, rising by 29.1 per cent year on year, followed by jewellery, watches and clocks, and valuable gifts, at 11.9 per cent.Motor vehicles and parts recorded the steepest decline, falling by 22 per cent.The Hong Kong Retail Management Association had previously warned that August sales fell short of expectations. Its survey, which covered about 3,100 shops and 75,000 employees, found that about 40 per cent of respondents reported weaker-than-expected performance.Annie Tse Yau On-yee, chairwoman of the Hong Kong Retail Management Association, said August sales had fallen short of retailers’ expectations as weak visitor spending limited the benefit of increased arrivals.She said improved weather had helped, but residents’ summer travel continued to put pressure on retailers serving the local market, while stronger visitor numbers had not translated into equally strong spending.“Against a low comparison base, I would describe growth of 5.6 per cent as relatively steady, rather than particularly outstanding,” she said.Tse attributed the sharp rise in sales of electrical goods to new product launches by certain brands and clearance promotions ahead of the release of other models.Discounts at major bookstores also helped lift sales in the books, stationery and gifts category, which rose 11.2 per cent compared with last year.She said the decline in motor vehicle sales continued to reflect purchases brought forward to March to take advantage of tax concessions.The association’s latest survey, covering about 4,400 outlets and 89,000 employees, found that three-quarters of respondents recorded year-on-year sales growth in September.Tse said better weather supported retailers serving local customers, with optical shops, furniture sellers, clothing retailers, department stores and convenience stores reporting single-digit increases.Cosmetics retailers reported mid-teen growth, while personal care and jewellery businesses recorded low-teen increases.Supermarkets and health supplement retailers reported mixed results, while car sales continued to decline.About 70 per cent of respondents reported sales growth on the first day of the National Day “golden week” holiday on Thursday, although Tse said it was too early to assess the overall performance.The association’s executive director, Bond Law, cautioned that the uneven performance across retail categories meant the sector had yet to fully recover.“We can only say it has returned to a relatively stable state,” he added.The association maintained its forecast for single-digit retail sales growth this year.https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3369559/consumer-spending-picks-hong-kong-retail-sales-rising-56-august?pgtype=live (ICE HONG KONG)

Fonte notizia: South China Morning Post