智通财经APP获悉，摩根士丹利发布研报称，香港5月总零售销售额同比增长2.4%，达到313亿港元(2025年4月同比下降2.3%)，结束了自2024年3月以来连续14个月的同比收缩。这也超出了该行预估的同比下降2%。2025年前五个月零售销售额同比下降幅度继续收窄至4%(2025年前四个月为同比下降5.6%)。耐用消费品见大幅改善，但奢侈品零售销售仍在下降。
大摩预计，6月零售销售额同比增长1%，因失业率上升(2025年5月为3.5%)及近期餐饮和零售店关闭，导致该行对整体消费情绪仍持谨慎态度。尽管如此，新体育场举办的演唱会等大型活动及内地游客数量增加(2025年5月同比升19%，6月同比升12%)可能部分缓解这一情况。虽然该行对九龙仓置业(01997)和希慎兴业(00014)因租金负增长及商铺关闭而保持谨慎，但近期的14个月以来首个正增长的零售销售数据可能为其股价带来正面反应。
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