FX.co ★ Macau Retail Sales Decline Extends into Fifth Straight Quarter

Retail sales in Macau experienced a decline of 17.8% year-on-year in the first quarter of 2025, following a 10.6% decrease in the fourth quarter of 2024. This represents the fifth consecutive quarter of diminishing sales, with sharp declines across various categories. Department store goods saw a reduction of 16.4% compared to a 10.9% drop in the previous quarter. Leather goods decreased by 23.8%, following a 16% decline, while sales of adults' clothing fell by 8.7%, reversing a previous 6.8% growth. Communication equipment sales decreased by 8.7%, down from a 12.5% gain. Cosmetics and sanitary articles dropped by 20.9%, following a 6.6% dip. Automotive fuel sales fell by 7.9%, worsening from a 3.7% decline. Sales of watches, clocks, and jewelry decreased by 29.9%, though this was an improvement over the 33.7% contraction previously observed. Conversely, there was a rebound in the sales of household fuels, which grew by 5.5% compared to a 17% decline previously, and automobile sales continued to increase, albeit at a slower pace, growing by 11.4% following a 16.5% rise. On a quarterly basis, retail sales increased by 5.5% in the first quarter of 2025, after a 13.4% rise in the previous quarter.