FX.co ★ Macau Retail Sales Growth Eases in Q2

Retail sales in Macau increased by 6.2% year-on-year in the second quarter of 2026, slowing from the robust 16.5% growth recorded in the previous three-month period.

Growth weakened across several categories, including leather goods (up 5.2% vs 23.8% in Q1), motor vehicles (2.1% vs 2.6%), and communication equipment (80.1% vs 88.6%). At the same time, sales turned negative for department stores (-20.2% vs +0.7% in Q1), adults’ clothing (-2.7% vs +22.0%), pharmacies (-8.4% vs +0.3%), and Chinese food products (-7.7% vs +1.5%). Declines also deepened for supermarkets (-8.3% vs -5.4%) and automotive fuels (-10.6% vs -3.2%).

By contrast, some segments saw stronger momentum: sales of watches, clocks, and jewellery accelerated to 15.9% from 11.2% in Q1, while cosmetics and sanitary articles surged 37%, up from 29.1%.

On a quarter-on-quarter basis, retail sales fell 17.1% in the second quarter of 2026, reversing the 9.0% growth logged in the first quarter. Over the January–June period as a whole, retail sales were 11% higher than in the same period a year earlier.