CAR sales might be spluttering to a halt but there are growing signs that other retail sales could soon be revving up.
Hong Kong's consumers might not be beating a path to the supermarket, but there are increasing signals that they are not sitting so tightly on their wallets.
Taken in isolation, February's sales reinforce the impression of a long winter that has made discount signs a permanent fixture in display windows.
Food sales, fuels, clothing and department stores all posted year-on-year falls for March.
But they are being compared with a period of exceptional demand fuelled by dizzying price rises for flats and a record-breaking performance by the Hang Seng Index.
Growing stability in the property market, expectations of an increase in tourist arrivals, and growth in export and investment spending should result in improved consumer sentiment.