91% of HK businessmen see a bleak 2011

Respondents with positive expectations fell from 28 per cent to 26 per cent.

According to Hong Kong Information Services Department, 26% of survey respondents expect their business situation to improve in the first quarter compared with the last quarter, while 9% expect it to worsen.

These were the findings of the Census & Statistics Department's latest Quarterly Business Tendency Survey released today. Respondents in almost all surveyed sectors had a favourable business outlook for the first quarter, particularly those in the retail, and financing and insurance sectors.

In the information and communications sector, however, the proportion of respondents with a favourable business outlook was broadly the same as that with an unfavourable outlook.

Respondents in all surveyed sectors also expected a rise in business volume in this quarter over the last on balance, especially those in the retail, and financing and insurance sectors.

Respondents in all the surveyed sectors expect their employment to increase this quarter over last. The financing and insurance, retail, and information and communications sectors have significantly more respondents expecting their employment to increase, as against those expecting it to decrease.

The enumeration period for the survey was from December 7 to January 11.