Provisional statistics of restaurant receipts and purchases for fourth quarter of 2019 and for whole year of 2019
The Census and Statistics Department (C&SD) released the latest provisional figures on restaurant receipts and purchases today (February 5).
The value of total receipts of the restaurants sector in the fourth quarter of 2019, provisionally estimated at $26.0 billion, decreased by 14.3% over a year earlier. Over the same period, the provisional estimate of the value of total purchases by restaurants decreased by 13.0% to $8.4 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 16.0% in the fourth quarter of 2019 compared with a year earlier.
Analysed by type of restaurant and comparing the fourth quarter of 2019 with the fourth quarter of 2018, total receipts of Chinese restaurants decreased by 19.2% in value and 21.1% in volume. Total receipts of non-Chinese restaurants decreased by 15.1% in value and 16.6% in volume. Total receipts of fast food shops decreased by 3.7% in value and 4.9% in volume. Total receipts of bars decreased by 14.5% in value and 17.4% in volume. As for miscellaneous eating and drinking places, total receipts decreased by 8.2% in value and 10.6% in volume.
Based on the seasonally adjusted series, the provisional estimate of total restaurant receipts decreased by 3.1% in value and 3.4% in volume in the fourth quarter of 2019 compared with the preceding quarter.
For 2019 as a whole, the value of total receipts of the restaurants sector was provisionally estimated at $112.5 billion, decreased by 5.9% in value and 8.0% in volume compared with the whole year of 2018. Over the same period, the provisional estimate of the total purchases of restaurants decreased by 5.1% to $36.1 billion.
Analysed by type of restaurant and comparing the whole year of 2019 with the whole year of 2018, total receipts of Chinese restaurants decreased by 10.0% in value and 12.1% in volume. Total receipts of non-Chinese restaurants decreased by 6.4% in value and 8.3% in volume. Total receipts of fast food shops increased by 1.9% in value and 0.1% in volume. Total receipts of bars decreased by 9.0% in value and 10.7% in volume. As for miscellaneous eating and drinking places, total receipts increased by 1.6% in value, but decreased by 1.7% 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 14.2%, 14.9% and 14.0% respectively in October, November and December 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 15.9%, 16.7% and 15.6% respectively in October, November and December 2019, compared with the corresponding months a year earlier.
Commentary
A Government spokesman noted that the value of total restaurant receipts showed a steeper plunge of 14.3% in the fourth quarter of 2019 from a year earlier, marking the largest fall since the outbreak of SARS in the second quarter of 2003, as the local social incidents with intensified violence in the quarter caused severe disruptions to food and beverage businesses. For 2019 as a whole, total restaurant receipts declined by 5.9% in value terms, the first annual decline since 2003.
The spokesman further pointed out that the food and beverage sector has been facing an even more difficult business environment recently due to the threat of the novel coronavirus infection. The outlook down the road depends critically on how the situation of the novel coronavirus infection will evolve. 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 third quarter of 2019 as well as the provisional figures for the fourth 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 third quarter of 2019 and the provisional indices for the fourth 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 fourth quarter of 2019 (with breakdown by month) will be released through the website of C&SD (www.censtatd.gov.hk/hkstat/sub/bbs.jsp) and relevant publications of the Department from March 20, 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 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 C&SD (Tel: 3903 7401; email: qsr@censtatd.gov.hk).
