FX.co ★ Hong Kong Retail Sales Strongest Since 2023

Retail sales in Hong Kong experienced a robust increase of 5.3% in October 2025, compared to the same period the previous year, beating the 4.8% uptick recorded in September. This surge represents the most significant growth since November 2023. The increase was primarily fueled by a rise in sales of food, alcoholic beverages, and tobacco, which jumped to 3.8% from 1.7% in September, as well as a boost in department store sales, climbing to 6.3% from 2.6%. The market for clothing, footwear, and related products showed a positive turnaround, rising by 1.4% after a 7.8% decline. Although fuel sales continued to decrease, the reduction slowed considerably to 8.9% from 14.5%. However, growth in sales of consumer durable goods eased to 17.1% from 21%, while jewelry, watches, clocks, and high-value items also saw a slowdown, with growth moderating to 0.9% from 6%. Sales of other consumer goods remained relatively stable at 5.6%, down just slightly from 5.7%, whereas supermarket sales suffered a notable decline, dropping 3.5% after a minor 0.4% decrease. On a month-to-month basis, retail activity surged by 11.5% in October, compared to a 2.7% increase in the previous month, the most significant month-on-month rise since December 2022.