ECONOMY | Staff Reporter, Hong Kong

Accommodation and retail sectors lead Q2 charge in business receipts

They booked double-digit growth at 16.5% and 12.4% respectively.

Hong Kong firms recorded positive mid-year performances as business receipts rose across most service industries in Q2, according to the Census & Statistics department.

The accommodation and retail sectors led the year-on-year growth in business receipts after booking double-digit growth at 16.5% and 12.4% respectively in Q2, reflecting the surge in activity brought about by recovering tourism levels.

Also read: Tourism recovery boosts half-year hotel performance

Business receipts for warehousing and storage industries as well as computer and information technology services also rose 12.2% and 2.9% on a year-on-year basis respectively.

Also read: Third-party logistics players ramp up expansion plans despite trade jitters

On a quarter-on-quarter basis, the gains were less felt as business receipts in the accommodation industry only rose by 6.1% in Q2. Figures for the tourism, convention and exhibition service and computer and information technology services also recorded marginal gains at 0.8% and 1.1% respectively over the same period.

On the other hand, business receipts for the financing industry (except banking) fell 9.1% QoQ in Q2.

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