The Census and Statistics Department (C&SD) released the latest provisional figures on restaurant receipts and purchases today (November 4).
The value of total receipts of the restaurants sector in the third quarter of 2020, provisionally estimated at $17.0 billion, decreased by 35.3% over a year earlier. Over the same period, the provisional estimate of the value of total purchases by restaurants decreased by 33.4% to $5.7 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 34.8% in the third quarter of 2020 compared with a year earlier.
Analysed by type of restaurant and comparing the third quarter of 2020 with the third quarter of 2019, total receipts of Chinese restaurants decreased by 46.6% in value and 46.3% in volume. Total receipts of non-Chinese restaurants decreased by 30.9% in value and 28.3% in volume. Total receipts of fast food shops decreased by 23.1% in value and 24.2% in volume. Total receipts of bars decreased by 62.7% in value and 63.6% in volume. As for miscellaneous eating and drinking places, total receipts decreased by 20.9% in value and 21.8% in volume.
Based on the seasonally adjusted series, the provisional estimate of total restaurant receipts decreased by 22.6% in value and 21.6% in volume in the third quarter of 2020 compared with the preceding quarter.
Comparing the first three quarters of 2020 with the same period in 2019, total restaurant receipts decreased by 30.8% in value and 31.4% 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 36.9%, 43.6% and 25.0% respectively in July, August and September 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 36.0%, 42.7% and 25.2% respectively in July, August and September 2020, compared with the corresponding months a year earlier.
Commentary
A Government spokesman said that the value of total restaurant receipts declined by a record 35.3% year-on-year in the third quarter of 2020 amid the third wave of COVID-19 infections. Nevertheless, as the local epidemic situation abated in September, total restaurant receipts saw a visibly narrowed decline in the month as compared to those in July and August.
The spokesman further pointed out that keeping the local epidemic under control will help pave the way for a recovery of the business of restaurants. While local consumption sentiment appears to have improved somewhat recently, the business environment of restaurants is likely to remain challenging in the near term as the job and income conditions of the economy are still under pressure and inbound tourism is unlikely to see a swift rebound. The Government will 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 second quarter of 2020 as well as the provisional figures for the third 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 second quarter of 2020 and the provisional indices for the third 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 third 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 December 18, 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).
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