Retail sales in Hong Kong surged 17.5% year-on-year in February 2026, accelerating from an upwardly revised 3.5% in January. This marks the highest level since April 2023, as consumer spending reaches higher volatility during the Chinese New Year festival. Sales increased for food, alcoholic beverages and tobacco (17.6% versus -11.3%), supermarkets (14.2% versus -5.7%), clothing and footwear and allied products (18.9% versus 4.1%) and department stores (31.8% versus -9.9%). In contrast, fuel sales declined by 18.3%, easing from a decline of 25% in the previous month. Additionally, sales growth slowed for consumer durable goods (24.1% versus 37%) and jewelry, watches, clocks and valuable gifts (4.4% versus 10.8%). For the first two months of the year, retail sales in Hong Kong rose 9.5% compared to the same period a year earlier. On a monthly basis, retail sales declined 6%, reversing a 6.5% gain in January.