ECONOMY | Staff Reporter, Hong Kong

Government survey reveals businesses expect the worst in 2021

Only 9% of those surveyed are optimistic for 2021.

One in five firms expects the business climate to worsen in Q1 2021 compared to Q4 2020, and only 9% of them are optimistic about 2021, reveals a government survey.

The Quarterly Business Tendency Survey, done between December 2, 2020 to January 15, 2021, also found that business owners optimism dropped from 17% in Q4 2020 to 9% in Q1 2021.

The accommodation and food services, transportation, storage and courier services, and construction industry are the sectors that most expect a negative impact in their businesses in Q1 2021.

Most businesses also expect a decrease in employment in Q1.

A government spokesman said that overall business sentiment turned more pessimistic as the fourth wave of the epidemic, which started in the latter part of November 2020, caused disruptions to a range of domestic economic activities.

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