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Business receipts in value terms of more than half of the major service industries showed increases of different magnitudes in the second quarter of 2015 when compared with the second quarter of 2014, according to the provisional figures of business receipts indices released today (September 10) by the Census and Statistics Department (C&SD).
Comparing the second quarter of 2015 with the second quarter of 2014, double-digit increases were recorded in business receipts of the financing (except banking) (+43.8%), banking (+27.8%), real estate (+13.4%), information and communications (+11.6%), warehousing and storage (+11.4%), and insurance (+10.8%) industries.
On the other hand, the accommodation services industry recorded a notable decrease of 10.9% in business receipts during the same period.
Analysed by service domain, business receipts of the tourism, convention and exhibition services domain decreased by 4.2% year-on-year during the same period, while those of the computer and information technology services domain decreased by 6.8% year-on-year.
On a seasonally adjusted quarter-to-quarter comparison, around half of the major service industries recorded increases in business receipts of different magnitudes in the second quarter of 2015 when compared with the first quarter of 2015. In particular, business receipts of the financing (except banking) industry and banking industry increased significantly by 20.5% and 19.5% respectively. On the other hand, amongst those major service industries which recorded decreases in business receipts, the accommodation services industry and import/export trade industry saw more apparent decreases of 5.8% and 5.7% respectively.
Comparing the second quarter of 2015 with the first quarter of 2015 and on a seasonally adjusted basis, business receipts of the tourism, convention and exhibition services domain decreased by 3.0%, whereas those of the computer and information technology services domain increased by 5.3%.
Table 1 presents the business receipts indices and their corresponding year-on-year rates of change in respect of selected service industries and service domains for the recent five quarters, while Table 2 shows the corresponding quarter-to-quarter rates of change in the business receipts indices based on the seasonally adjusted series.
The revised figures of business receipts indices for the second quarter of 2015 will be released at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/sp70.jsp?subjectID=7&tableID=093&ID=0&productType=8) and relevant publications of the C&SD starting from October 22, 2015.
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 which straddle 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 the tourism, convention and exhibition services domain as an example, it includes all services of hotels and travel agents, and some (those involving visitors as customers) but not all of the services of restaurants, retailers and transport operators.
The classification of service industries follows the Hong Kong Standard Industrial Classification Version 2.0, which is used in various economic surveys for classifying economic units into different industry classes.
More detailed statistics are given in the report "Quarterly Business Receipts Indices for Service Industries, Second Quarter 2015". Users can download this publication free of charge at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/sp70.jsp?productCode=B1080006).
Members of the public who have enquiries about the business receipts indices may contact the Business Services Statistics Section of the C&SD (Tel: 3903 7267 or e-mail: business-receipts@censtatd.gov.hk).
Ends/Thursday, September 10, 2015
Issued at HKT 16:30
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