***********************************************************
Business receipts in value terms of all service industries increased in the first quarter of 2007 over a year earlier, according to the provisional business receipts indices released today (June 11) by the Census and Statistics Department (C&SD).
Comparing the first quarter of 2007 with a year earlier, business receipts of the financing (except banking), banking and real estate industries increased notably by 34.2%, 27.3% and 24.8% respectively.
The increase in business receipts of the financing (except banking) industry was mainly fuelled by the buoyant local stock market, while that of the banking industry was mainly attributable to growth of non-interest income. As for the increase in business receipts of the real estate industry, it was mainly due to the low comparison base recorded in the same quarter last year.
Other service industries that recorded more notable increases in business receipts included the storage (+19.7%), hotels (+16.0%), insurance (+15.7%), business services (+13.5%) and restaurants (+11.8%).
Analysed by service domain, comparing the first quarter of 2007 with a year earlier, business receipts of the tourism, convention and exhibition services domain increased by 12.6%, attributable to the growth in inbound tourism. During the same period, business receipts of the computer and information services domain increased by 3.7%.
Comparing the first quarter of 2007 with the fourth quarter of 2006, and bearing in mind that this comparison might be affected by seasonal factors, the number of service industries that recorded increases in business receipts was slightly more than that of service industries that recorded decreases. Among service industries that recorded increases in business receipts, a larger increase was recorded in the real estate (+10.6%) industry. On the other hand, among service industries which recorded decreases in business receipts, larger decreases were recorded in the hotels (-12.0%) and import and export trade (-11.6%) industries.
Table 1 presents provisional business receipts indices for service industries and service domains for the first quarter of 2007, while Table 2 shows the time series of the business receipts indices for the recent five quarters.
Data for compiling the business receipts indices are mainly from the Quarterly Survey of Service Industries conducted by the C&SD, supplemented by relevant data provided by the Hong Kong Monetary Authority and the Hong Kong Tourism Board.
A service domain differs from a service industry in that it comprises those economic activities straddling different industries but are somehow related to a common theme. It may include all activities carried out by all establishments in a service industry that is closely related to the domain. For a service industry that is less closely related, however, only a portion of the establishments in the industry or even only part of the economic activities of the establishments is related to the domain. Taking tourism as an example, it includes all activities of all hotels and travel agents; and some (those involving visitors as customers) but not all of the activities of restaurants, retailers and transport operators.
Details on the compilation method of the business receipts indices are given in the report "Quarterly Business Receipts Indices for Service Industries, First Quarter 2007".
Users can download this publication free of charge at the Website of the C&SD (www.censtatd.gov.hk/products_and_services/products/publications/index.jsp).
Print version of this publication is available for sale at HK$11 per issue. Purchase can be done in person at the Publications Unit of the C&SD (Address: 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel: 2582 3025) or through mail order by returning a completed order form which can be downloaded from the C&SD's website (www.censtatd.gov.hk/products_and_services/other_services/provision_of_stat/mail_ordering_of_publications/index.jsp). Print version of this publication is also available for sale online at the Statistical Bookstore (www.statisticalbookstore.gov.hk) and the Government Bookstore of the Information Services Department (www.bookstore.gov.hk). Print versions if purchased online are offered a discount, at 85% of their original prices.
Enquiries about results of this survey can be directed to the Business Services Statistics Section of the C&SD at tel: 2802 1269 or email address business-receipts@censtatd.gov.hk.
Ends/Monday, June 11, 2007
Issued at HKT 16:15
NNNN
