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Business receipts in value terms of major service industries in the first quarter of 2008 were higher than those a year earlier, although most of them were somewhat lower than those in the fourth quarter of 2007, according to the provisional business receipts indices released today (June 12) by the Census and Statistics Department (C&SD).
Comparing the first quarter of 2008 with the first quarter of 2007, service industries that recorded notable increases in business receipts included financing (except banking) (33.8%), real estate (17.4%), transport (16.4%), restaurants (+15.8%) and wholesale/retail (+15.8%).
Analysed by service domain, comparing the first quarter of 2008 with the first quarter of 2007, business receipts of the tourism, convention and exhibition services domain were up by 13.7%, mainly attributable to the year-on-year increase in inbound visitor arrivals. During the same period, business receipts of the computer and information services domain also increased by 17.8%.
Compared with the fourth quarter of 2007, business receipts of most service industries recorded decreases in the first quarter of 2008. In particular, the financing (except banking), real estate and banking industries registered notable decreases of 26.4%, 22.9% and 22.0% respectively, mainly attributable to the consolidation of local stock market and slowdown in trading activities in the property market. On the other hand, wholesale/retail, restaurants and film entertainment industries recorded modest increases in business receipts. It should be borne in mind that this comparison might be affected by seasonal factors to some extent.
Table 1 presents the provisional business receipts indices for selected service industries and service domains for the first quarter of 2008, 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 based on 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 across different industries but are somehow related to a common theme. It may include all economic 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 services domain as an example, it includes all services of all hotels and travel agents; and some (those involving visitors as customers) but not all of the services of restaurants, retailers and transport operators.
Details of the compilation method of the business receipts indices are given in the report "Quarterly Business Receipts Indices for Service Industries, First Quarter 2008".
Users can download the report free of charge at the website of the C&SD (www.censtatd.gov.hk/products_and_services/products/publications/index.jsp).
Print version of the report 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 the report is also available for sale online at the Government Bookstore of the Information Services Department (www.bookstore.gov.hk).
Enquiries about the report can be directed to the Business Services Statistics Section of the C&SD at telephone number 2802 1277 or email address:business-receipts@censtatd.gov.hk
Ends/Thursday, June 12, 2008
Issued at HKT 16:15
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