Which sectors are expecting their situation to improve by end-2021?
Only 14% of businesses believe their situation will get better in Q4.
The Q4 Business Tendency Survey showed that business optimism dipped slightly in the fourth quarter (Q4), with only 14% of businesses believing their situation will improve for the last quarter of 2021.
The current figure is 3% lower than last quarter’s results of 17%.
Respondents who are expecting a worse business situation, on the other hand, grew to 13% from 11% in Q3.
From all the sectors surveyed, business optimism was seen in the accommodation and food sector.
The sector is also expecting its business/output volume, employment, prices and service charges to increase in the near term.
Large enterprises, particularly in retail, accommodation and food services, real estate, manufacturing as well as information and communications are also expecting further business expansion in Q4 despite a “more cautious” business sentiment due to uncertainty brought by COVID.
Meanwhile, business sentiment in the construction; transportation, storage and courier services; and financing and insurance sectors slightly worsened as more respondents expect their business situation to be worse.
The views of about 560 prominent establishments across 10 major sectors in Hong Kong were gathered for the Quarterly Business Tendency Survey.
These sectors were manufacturing; construction; import/export trade and wholesale; retail; accommodation and food services (mainly covering services rendered by hotels and restaurants); transportation, storage and courier services; information and communications; financing and insurance; real estate; and professional and business services sectors.
Census and Statistics Department explained that views collected in the survey “refer only to those of respondents on their own establishments rather than those on the respective sectors they are engaged in and are limited to the expected direction of quarter-to-quarter change (e.g. "up", "same" or "down") but not the magnitude of change.”