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[Brokerage Focus] Goldman Sachs: Hong Kong's Retail Trade had poor performance in November, with sales figures and performance of various categories varying.
Jinwu Financial News | A Goldman Sachs Research Report points out that in November, the value of retail sales in Hong Kong decreased by 0.6% month-on-month after seasonal adjustment, while the retail volume increased by 0.3%. Among major categories, sales of "jewelry, watches, and luxury gifts" saw the largest growth, while durable consumer goods experienced the greatest decline. Year-on-year, the sales value significantly dropped by 73%, which is a noticeable increase in the decline compared to October's -2.8%. In terms of retail sales value, there was a 73% decrease year-on-year in November, with a month-on-month growth of -0.6% after seasonal adjustment by Goldman Sachs, compared to +1.4% in October. The growth in sales value varies across different categories.
In Hong Kong, the total value of retail trade sales in November 2024 is estimated to be 31.7 billion HKD, a year-on-year decrease of 7.3%.
On January 2, the Census and Statistics Department of the Hong Kong government released the latest sales figures for the Retail Trade.
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