Hong Kong restaurants in limbo

Hong Kong restaurants sales showed little growth in the last quarter of 2015 – and even went backwards by some definitions.
The Census and Statistics Department (C&SD)’s provisional figures on restaurant receipts and purchases in the last quarter of 2015 show total receipts at $26.8 billion, up 3.7 per cent year on year. During the same period, the provisional value of total purchases by restaurants increased by 1.7 per cent to $8.9 billion.
But after netting out the effect of price changes over the same period, restaurant receipts fell by 0.3 per cent.
And after seasonal adjustment, receipts decreased 1.2 per cent in value and 1.8 per cent in volume quarter on quarter.
Chinese restaurants fared the worst, sales up by 1.7 per cent in value but down 2.3 per cent in volume. Total receipts of non-Chinese restaurants increased by 5.4 per cent in value and 1.6 per cent in volume.
Fast food sales rose 6.7 per cent in value and 2.8 per cent in volume, while “miscellaneous eating and drinking places” increased 2.9 per cent in value but decreased 1.9 per cent in volume.
Sales in bars rose 2.7 per cent in value but fell 0.4 per cent in volume.
For the whole of 2015, restaurant sector sales totalled $104.4 billion, representing an increase of 3.9 per cent in value over 2014, but down 0.3 per cent in volume.
More detailed statistics are given in the Report on Quarterly Survey of Restaurant Receipts and Purchases, downloadable at no cost from the C&SD website.

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