February retail surges 19.3%, Iraq war hampers consumer outlook

SighingCashier · 2026-04-01T19:37:50+00:00

In February 2023, the retail sales in Hong Kong increased by 19.3%, reaching HKD 35 billion, marking 10 consecutive months of growth, surpassing market expectations. The rise was mainly due to the low base last year and the influence of the Lunar New Year. However, the Iraq War still impacts the future consumption outlook.

SighingCashier

2026-04-01 19:37:50

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April 2, 2026

Retail soars 19.3% in February; concerns over the Iraq war weigh on consumption outlook

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Retail sales in Hong Kong have risen for 10 consecutive months, according to the Census and Statistics Department, the government said yesterday. In February, retail sales were provisionally estimated at 35 billion Hong Kong dollars, up 19.3% year on year, outperforming market expectations for growth of 12.2%. This also represented the largest increase since June 2023. The provisional estimate of sales volume rose 17.5%, higher than the estimated growth of 8.9%. The main reasons were a low base last year and the effect of the difference in the month in which the Lunar New Year fell. Strong start: appliances, cars, and jewelry remain in hot demand In the first two months of this year, total …

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