Provisional statistics of restaurant receipts and purchases for first quarter of 2020
The Census and Statistics Department (C&SD) released the latest provisional figures on restaurant receipts and purchases today (May 6).
The value of total receipts of the restaurants sector in the first quarter of 2020, provisionally estimated at $21.7 billion, decreased by 31.2% over a year earlier. Over the same period, the provisional estimate of the value of total purchases by restaurants decreased by 29.1% to $7.0 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 32.3% in the first quarter of 2020 compared with a year earlier.
Analysed by type of restaurant and comparing the first quarter of 2020 with the first quarter of 2019, total receipts of Chinese restaurants decreased by 39.6% in value and 40.9% in volume. Total receipts of non-Chinese restaurants decreased by 29.0% in value and 29.9% in volume. Total receipts of fast food shops decreased by 17.1% in value and 18.2% in volume. Total receipts of bars decreased by 37.5% in value and 40.8% in volume. As for miscellaneous eating and drinking places, total receipts decreased by 25.9% in value and 27.5% in volume.
Based on the seasonally adjusted series, the provisional estimate of total restaurant receipts decreased by 18.4% in value and 18.8% in volume in the first quarter of 2020 compared with the preceding quarter.
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 10.8%, 42.1% and 41.7% respectively in January, February and March 2020, 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 12.6%, 43.0% and 42.6% respectively in January, February and March 2020, compared with the corresponding months a year earlier.
Commentary
A Government spokesman noted that the year-on-year decline in the value of total restaurant receipts enlarged sharply to 31.2% in the first quarter of 2020, the largest on record, as the threat of COVID-19 and the resulting need for travel restrictions and social distancing significantly weighed on business.
The spokesman further pointed out that while there has been some signs of relative improvement lately from the very austere situation earlier, the business environment of the food and beverage sector will remain difficult in the near term amid the economic recession. To preserve the vitality of the economy, the Government has rolled out relief measures of unprecedented scale. Some of these measures, such as the specific support measures for the food and beverage sector and the enhancements to the SME Financing Guarantee Scheme, should help the sector endure the current hardship. The Government will continue to monitor the developments closely.
Further information
Table 1 presents the revised figures of restaurant receipts by type of restaurant and total purchases by the restaurants sector for the fourth quarter of 2019 as well as the provisional figures for the first quarter of 2020.
Table 2 and Table 3 present the revised value and volume indices respectively of restaurant receipts by type of restaurant for the fourth quarter of 2019 and the provisional indices for the first quarter of 2020.
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 first quarter of 2020 (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 June 19, 2020.
The classification of restaurants follows the Hong Kong Standard Industrial Classification (HSIC) 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: qsr@censtatd.gov.hk).