Retail sales ease decline in Q2

Macau’s retail sector saw a modest improvement in the second quarter of this year, with sales totaling MOP15.97 billion, according to data released by the Statistics and Census Service (DSEC).
The figure represented a year-on-year decline of 1.4%, far smaller than the sharp 15% drop recorded in the first quarter.
Adult clothing and department store sales both rebounded, rising 2.7% and 1.9% respectively.
The pace of decline also slowed for leather goods (-4.4%) and cosmetics and sanitary articles (-3.6%). After accounting for price effects, the overall retail sales volume index fell 2.4%, though clothing (+7.3%), department stores (+5.7%), and cosmetics (+0.2%) recorded slight gains.
For the first half of the year, retail sales dropped 9% year-on-year to MOP33.55 billion. Leather goods (-15.8%) and cosmetics (-14.3%) were the weakest segments, while pharmacies (+4.5%) and motor vehicles (+3.6%) posted growth. Watches, clocks, and jewellery sales volume fell sharply by 26.5%.
Looking ahead, 54.7% of retailers expect sales in the third quarter to remain steady, while 40% anticipate further declines and only 5.3% forecast growth. LV
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