Total restaurant receipts down 5.5% in Q2 22
A government spokesman said business improved visibly.
The total value of restaurants receipts decreased 5.5% to $22b (provisionally estimated) in the second quarter (Q2) of 2022, compared a year ago, figures from Census & Statistics Department said.
In the same period, the provisional estimate of the total purchases by restaurants went down by 2.3% to $7.4 billion.
After netting out the effect of price changes in Q2 2022, the provisional estimate of the volume of total restaurant receipts declined by 8.6% in Q2 2022 compared with the previous year.
For type of restaurant and comparing Q2 2022 with the second quarter of 2021, total receipts of Chinese restaurants dropped 7.4% in value and 10.5% in volume.
Total receipts of non-Chinese restaurants was down 5.8% in value and 9.1% in volume and total receipts of fast food shops decreased by 2.4% in value and 5.4% in volume. Whilst total receipts of bars decreased by 14.9% in value and 17.0% in volume.
As for eating and drinking places, total receipts were down by 2.8% in value and 6.0% in volume.
On a seasonally adjusted series, the provisional estimate of total restaurant receipts rose by 51.0% in value and 52.5% in volume in Q2 2022 compared with the preceding quarter.
"Comparing the first half of 2022 with the same period in 2021, total restaurant receipts decreased by 13.6% in value and 16.4% in volume," read the data.
A government spokesman said business of restaurants improved in Q2 this year due to moderated local epidemic situation and loosened social distancing measures as well as the consumption voucher scheme.
"The value of total restaurant receipts staged a strong rebound of 51.0% from the trough in the preceding quarter on a seasonally adjusted basis, and recorded a much narrower year-on-year decline of 5.5%," read the statement.