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Business receipts in value terms of most of the major service industries showed increases of different magnitudes in the third quarter of 2014 when compared with the third quarter of 2013, according to the provisional figures of business receipts indices released today (December 9) by the Census and Statistics Department (C&SD).
Comparing the third quarter of 2014 with the third quarter of 2013, double-digit increases were recorded in business receipts of the real estate (+25.8%); financing (except banking) (+18.5%); insurance (+16.2%); and banking (+11.3%) industries.
On the other hand, the courier industry recorded a noticeable decrease (-15.9%) in business receipts during the same period.
Analysed by service domain, business receipts of the tourism, convention and exhibition services domain increased by 2.6%, while those of the computer and information technology services domain increased by 0.4% during the same period.
On a seasonally adjusted quarter-to-quarter comparison, more than half of the major service industries recorded increases in business receipts of different magnitudes in the third quarter of 2014 when compared with the second quarter of 2014. In particular, business receipts of the banking and financing (except banking) industries both recorded the largest increase of 8.5%. On the other hand, amongst those major service industries recording decreases in business receipts, the wholesale industry recorded a more apparent decrease of 3.1%.
Comparing the third quarter of 2014 with the second quarter of 2014, business receipts of the tourism, convention and exhibition services domain increased by 5.4%, whereas those of the computer and information technology services domain decreased by 5.7% on a seasonally adjusted basis.
Table 1 presents the business receipts indices and their corresponding year-on-year rates of change in respect of selected service industries and service domains for the recent five quarters, while Table 2 shows the corresponding quarter-to-quarter rates of change in the business receipts indices based on the seasonally adjusted series.
The revised figures of business receipts indices for the third quarter of 2014 will be released at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/sp70.jsp?subjectID=7&tableID=093&ID=0&productType=8) and relevant publications of the C&SD starting from January 20, 2015.
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 which straddle different industries but are somehow related to a common theme. It may include all 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 hotels and travel agents; and some (those involving visitors as customers) but not all of the services of restaurants, retailers and transport operators.
The classification of service industries 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 "Quarterly Business Receipts Indices for Service Industries, Third Quarter 2014". Users can download this publication free of charge at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/sp70.jsp?productCode=B1080006).
Members of the public who have enquiries about the business receipts indices may contact the Business Services Statistics Section of the C&SD (Tel: 2802 1277 or email: business-receipts@censtatd.gov.hk).
Ends/Tuesday, December 9, 2014
Issued at HKT 16:30
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