FX.co ★ Hong Kong Retail Sales Growth Slows in November

In November 2025, Hong Kong experienced a 4.4% year-over-year increase in retail sales, marking the slowest growth in three months and down from a 5.3% rise in October. This deceleration was primarily due to declines in several categories: food, alcoholic beverages, and tobacco, which decreased by 0.1% compared to a 3.8% increase in October; jewelry, watches, clocks, and valuable goods, which dropped by 5.9% against a prior gain of 0.8%; and fuel, which plunged 17% versus an 8.9% decrease the previous month. Additionally, there was slower growth observed in department stores, registering at 3.2% compared to 6.3%, and other consumer goods at 5.2% compared to 5.5%. Conversely, there was an upswing in retail activity for clothing, footwear, and allied products, increasing by 1.6% from 1.4%, as well as consumer durable goods, which surged 27.6% from 17.2%. Month-over-month, sales fell by 4.1% in November, undoing an 11.5% increase in October.