In October, retail sales in Hong Kong fell by 2.9% year-on-year, marking eight consecutive months of decline. The chief economist and strategy analyst at dah sing, Wen Jiawei, stated that the decline during this period has narrowed to the smallest since the beginning of this year, and is lower than the market expectations of 5.5% and dah sing's 6.1%.

Wen Jiawei believes that the decline in local retail sales has narrowed, though it remains relatively weak. In October, there was a noticeable improvement in the sales of electronics and other durable consumer goods, possibly benefiting from the release of new asia vets and video games. The shift in spending patterns among Hong Kong residents who shop in the mainland and mainland travelers visiting Hong Kong is expected to continue affecting the development of the local retail trade in the medium to long term. The Hong Kong stock market fell back slightly after a sharp rise from late September to early October; however, the government's policy report easing some property mortgage ratios along with interest rate cuts has led to a slight stabilization in property prices recently. If the performance of the property and stock markets improves, coupled with the approach of the traditional consumer peak season, it may help boost consumer sentiment. The institution estimates that retail sales may record a single-digit decline year-on-year this year, while performance is expected to remain roughly flat next year.