Provisional statistics of restaurant receipts and purchases for third quarter of 2019
The value of total receipts of the restaurants sector in the third quarter of 2019, provisionally estimated at $26.4 billion, decreased by 11.7% over a year earlier. Over the same period, the provisional estimate of the value of total purchases by restaurants decreased by 10.9% to $8.5 billion.
After netting out the effect of price changes over the same period, the provisional estimate of the volume of total restaurant receipts decreased by 13.6% in the third quarter of 2019 compared with a year earlier.
Analysed by type of restaurant and comparing the third quarter of 2019 with the third quarter of 2018, total receipts of Chinese restaurants decreased by 17.8% in value and 19.7% in volume. Total receipts of non-Chinese restaurants decreased by 13.3% in value and 15.1% in volume. Total receipts of fast food shops increased by 2.2% in value and 0.7% in volume. Total receipts of bars decreased by 18.0% in value and 18.6% in volume. As for miscellaneous eating and drinking places, total receipts decreased by 2.0% in value and 5.2% in volume.
Based on the seasonally adjusted series, the provisional estimate of total restaurant receipts decreased by 10.6% in value and 11.4% in volume in the third quarter of 2019 compared with the preceding quarter.
Comparing the first three quarters of 2019 with the same period in 2018, total restaurant receipts decreased by 3.0% in value and 5.2% in volume.
To facilitate further understanding of the short-term business performance of the restaurants sector, statistics in respect of the restaurant receipts and purchases in individual months of the reference quarter are also compiled.
Analysed by month, it was provisionally estimated that the value of total receipts of the restaurants sector decreased by 9.2%, 12.9% and 13.1% respectively in July, August and September 2019, compared with the corresponding months a year earlier.
After discounting the effect of price changes, it was provisionally estimated that the volume of total restaurant receipts decreased by 11.2% in July 2019 and 14.8% in both August and September 2019, compared with the corresponding months a year earlier.
A Government spokesman noted that restaurant receipts deteriorated sharply in the third quarter and registered the largest year-on-year decline since the outbreak of SARS in the second quarter of 2003. The plunge in restaurant receipts in the third quarter mainly reflected the severe disruptions to food and beverage businesses caused by the local social incidents, while weak consumer sentiment amid subdued economic conditions also played a part.
The spokesman further pointed out that looking ahead, food and beverage businesses will still face immense pressure in the near term amid continued protests involving violence and the subdued economic outlook. The Government will continue to monitor the developments closely.
Table 1 presents the revised figures of restaurant receipts by type of restaurant and total purchases by the restaurants sector for the second quarter of 2019 as well as the provisional figures for the third quarter of 2019.
Table 2 and Table 3 present the revised value and volume indices respectively of restaurant receipts by type of restaurant for the second quarter of 2019 and the provisional indices for the third quarter of 2019.
Table 4 presents the year-on-year rate of change in total restaurant receipts in value and volume terms based on the original quarterly series, as well as the quarter-to-quarter rate of change based on the seasonally adjusted series.
The revised figures on restaurant receipts and purchases for the third quarter of 2019 (with breakdown by month) will be released through the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/bbs.jsp) and relevant publications of the Department from December 20, 2019.
The classification of restaurants 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 on Quarterly Survey of Restaurant Receipts and Purchases". Users can download this publication free of charge at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/sp320.jsp?productCode=B1080002).
Users who have enquiries about the survey results may contact the Distribution Services Statistics Section of the C&SD (Tel: 3903 7401; email: [email protected]).
Ends/Tuesday, November 5, 2019
Issued at HKT 16:30
Issued at HKT 16:30