***********************************************************
Business receipts in value terms of many major service industries in the third quarter of 2008 were higher than those a year earlier, according to the provisional business receipts indices released today (December 11) by the Census and Statistics Department (C&SD).
Comparing the third quarter of 2008 with the third quarter of 2007, service industries that recorded notable increases in business receipts included restaurants (+14.0%), wholesale and retail trade (+10.3%), import and export trade (+9.2%) and communications (+8.9%).
On the other hand, significant decrease in business receipts was recorded in the financing (except banking) industry (-27.0%), largely attributable to the marked decline in the stock market turnover when compared with the same period last year. Decrease was also recorded in the banking industry (-13.1%), mainly due to the reduction in non-interest income.
Analysed by service domain, comparing the third quarter of 2008 with the third quarter of 2007, business receipts of the tourism, convention and exhibition services domain were up by 8.3%, along with the growth in inbound tourism. During the same period, business receipts of the computer and information services domain increased slightly by 2.6%.
Compared with the second quarter of 2008, the performance of major service industries in the third quarter of 2008 was mixed. While slight to moderate increases in business receipts were recorded in some industries, relatively larger decreases in business receipts were recorded in the financing (except banking) (-15.7%) and real estate (-11.0%) industries. It should be borne in mind that this comparison might be affected by seasonal factors to some extent.
Table 1 presents the provisional business receipts indices for selected service industries and service domains for the third quarter of 2008, while Table 2 shows the time series of the business receipts indices for the recent five quarters.
The revised business receipts indices for the third quarter of 2008 will be released at the website of C&SD (http://www.censtatd.gov.hk/hong_kong_statistics/index.jsp) and relevant publications of the C&SD starting from January 23, 2009.
Data for compiling the business receipts indices are mainly based on the Quarterly Survey of Service Industries conducted by the C&SD, supplemented by relevant data provided by the Hong Kong Monetary Authority and the Hong Kong Tourism Board.
A service domain differs from a service industry in that it comprises those economic activities straddling different industries but are somehow related to a common theme. It may include all economic activities carried out by all establishments in a service industry that is closely related to the domain. For a service industry that is less closely related, however, only a portion of the establishments in the industry or even only part of the economic activities of the establishments is related to the domain. Taking the tourism, convention and exhibition services domain as an example, it includes all services of all hotels and travel agents; and some (those involving visitors as customers) but not all of the services of restaurants, retailers and transport operators.
Details of the compilation method of the business receipts indices are given in the report "Quarterly Business Receipts Indices for Service Industries, Third Quarter 2008".
Users can download the report free of charge at the website of the C&SD (www.censtatd.gov.hk/products_and_services/products/publications/index.jsp).
Print version of the report is available for sale at HK$11 per issue. Purchase can be done in person at the Publications Unit of the C&SD (Address: 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel.: 2582 3025) or through mail order by returning a completed order form which can be downloaded from the C&SD's website (www.censtatd.gov.hk/products_and_services/other_services/provision_of_stat/mail_ordering_of_publications/index.jsp). Print version of the report is also available for sale online at the Government Bookstore of the Information Services Department (www.bookstore.gov.hk).
Enquiries about the report can be directed to the Business Services Statistics Section of the C&SD at telephone number 2802 1277 or email address: (business-receipts@censtatd.gov.hk).
Ends/Thursday, December 11, 2008
Issued at HKT 16:30
NNNN