Information from the Statistics and Census Service (DSEC) indicated that 33% of the interviewed restaurants & similar establishments reported a year-on-year rise in receipts in October, up by 4 percentage points from September. The corresponding proportion of Chinese Restaurants (33%) increased by 10 percentage points while that of Western Restaurants (45%) decreased by 5 percentage points. On the other hand, the share of interviewed establishments recording a year-on-year decline in receipts dropped by 5 percentage points over September to 39%, with the corresponding proportion of Local Style Cafes, Congee & Noodle Shops (28%) reducing by 15 percentage points whereas that of Western Restaurants (45%) rising by 15 percentage points.
As regards retail trade, 40% of the interviewed retailers registered a year-on-year sales increase in October, up by 4 percentage points from September; the corresponding proportion of Adults’ Clothing Retailers grew by 5 percentage points to 35%. On the other hand, 33% of the interviewed retailers reported a year-on-year sales decrease in October, down slightly by 1 percentage point from September, while the corresponding proportions of Motor Vehicle Retailers (80%) and Department Stores (36%) went up by 20 and 18 percentage points respectively.
The interviewed restaurants & similar establishments were cautious about their business prospects in November, with 33% of the interviewed establishments anticipating a year-on-year decline in receipts, up by 2 percentage points from October. The corresponding proportion of Japanese & Korean Restaurants (59%) rose by 21 percentage points. Meanwhile, 49% of the interviewed establishments expected their receipts to remain stable year-on-year, down by 2 percentage points from October. Among the various types of interviewed establishments, 52% of the Chinese Restaurants anticipated their receipts to remain steady year-on-year in November, a decrease of 2 percentage points over October, whereas the corresponding proportion of Western Restaurants (50%) increased by 5 percentage points.
Retailers were more conservative about their business performance in November, with 49% of the interviewed retailers expecting stable sales year-on-year, up by 4 percentage points from October. Among the various types of interviewed retailers, 61% of the Watches, Clocks & Jewellery Retailers and 46% of the Department Stores anticipated their sales to hold steady year-on-year in November, up by 28 and 9 percentage points respectively from October. On the other hand, the proportion of interviewed retailers predicting a year-on-year sales decrease rose by 2 percentage points from October to 27%, with the corresponding proportion of Motor Vehicle Retailers (70%) surging by 30 percentage points.
The sample of the Business Climate Survey on Restaurants & Similar Establishments and Retail Trade was selected based on the value of receipts of the establishments, comprising 174 restaurants & similar establishments (accounting for 53% of the industry’s receipts) and 136 retailers (accounting for 70% of the industry’s receipts). The Survey results were not extrapolated and only reflect the assessment of the business performance and expectations of the sample restaurants and retailers.
