Information from the Statistics and Census Service (DSEC) indicated the business performance of restaurants & similar establishments and retail trade both showed an improvement in August. There were 52% of the interviewed restaurants & similar establishments reporting a year-on-year growth in receipts, up by 13 percentage points from July. The corresponding proportions of Western Restaurants (58%) and Local Style Cafes, Congee & Noodle Shops (47%) surged by 32 and 14 percentage points respectively. On the other hand, the proportion of interviewed establishments recording a year-on-year decline in receipts went down by 4 percentage points from July to 31%, with the corresponding share of Western Restaurants (21%) declining by 26 percentage points.
As regards retail trade, 69% of the interviewed retailers reported a year-on-year sales increase in August, up by 6 percentage points from July. The corresponding proportions of Motor Vehicle Retailers (78%) and Cosmetics & Sanitary Articles Retailers (78%) grew by 22 and 11 percentage points respectively. All of the interviewed Leather Goods Retailers and 78% of the Department Stores showed a year-on-year sales growth, the same as in July. Meanwhile, 16% of the interviewed retailers registered a year-on-year sales decline in August, down by 11 percentage points from July, with the corresponding proportion of Adults’ Clothing Retailers (15%) slipping by 25 percentage points.
The interviewed restaurants & similar establishments expected their business to weaken slightly in September after the summer holidays. The proportion of interviewed establishments anticipating a year-on-year growth in receipts decreased by 3 percentage points from August to 21%. Among the various types of interviewed establishments, 37% of the Chinese Restaurants forecasted a year-on-year increase in their receipts in September, down by 11 percentage points from August. Meanwhile, 31% of the interviewed establishments predicted a year-on-year decline in receipts, up by 7 percentage points from August, with the corresponding share of Western Restaurants (42%) rising by 11 percentage points.
Retailers expected a slowdown in business in September, with 36% of the retailers anticipating a year-on-year sales increase, down by 4 percentage points from August. Among the various types of interviewed retailers, 33% of the Supermarkets expected a year-on-year sales rise in September, down by 22 percentage points from August; the corresponding proportions of Leather Goods Retailers (80%) and Department Stores (50%) remained unchanged. On the other hand, 20% of the interviewed retailers predicted a year-on-year decrease in sales, up slightly by nearly 1 percentage point from August.
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 167 restaurants & similar establishments (accounting for 53% of the industry’s receipts) and 135 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.
