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HK Sep Total Retail Sales Value YoY Decline Narrows to 6.9%, Beating Forecasts
Recommend 5 Positive 2 Negative 8 |
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The value of total retail sales in September 2024, provisionally estimated at $29.6 billion, decreased by 6.9% YoY, compared with market consensus of a 9% decline, according to the announcement made by the Census and Statistics Department of Hong Kong (C&SD). The revised estimate of the value of total retail sales in August 2024 decreased by 10% YoY. For the first 9 months of 2024 taken together, it was provisionally estimated that the value of total retail sales decreased by 7.6% compared with the same period in 2023. Of the total retail sales value in September 2024, online sales accounted for 10.4%. The value of online retail sales in that month, provisionally estimated at $3.1 billion, decreased by 11.8% YoY. The revised estimate of online retail sales in August 2024 decreased by 0.7% YoY. For the first 9 months of 2024 taken together, it was provisionally estimated that the value of online retail sales decreased by 2.0% compared with the same period in 2023. AAStocks Financial News |
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