Hotel and food industries' outlook turn sour in Q3

They are amongst the sectors expecting a turn for the worse in coming quarters.

A greater number of employees in Hong Kong’s accommodation and food services sector, which service hotel and restaurants, expect their business situation to worsen in Q3 compared to those who expect things to improve, according to the Quarterly Business Tendency Survey released by the Census & Statistics Department. 

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This comes as F&B sector continues to rack up the most private sector vacancies in March after accounting for 12,030 vacancies out of 76,880 overall.

On the other hand, those in the manufacturing, finance and insurance and IT sectors expect their business situation to pick up in Q3. The finance sector was also amongst the most bullish in Q2. 

These sectors along with construction, retail, storage and courier services also expect the number of employment opportunities to increase.

Overall, businesses still remain bullish about their business outlook in Q3 (14%) than those who expect things to fail (8%).

The QBTS survey gathers views on short-term business performance from the senior management of about 560 prominent establishments in various sectors in Hong Kong for predicting the short-term future economic performance of the local economy.