Business receipts in value terms of major service industries in the first quarter of 2008 in Hong Kong were higher than those a year earlier, although most of them were somewhat lower than those in the fourth quarter of 2007, according to the provisional business receipts indices released on Thursday by the Census and Statistics Department (C&SD).
Comparing the first quarter of 2008 with the first quarter of 2007, service industries that recorded notable increases in business receipts included financing (except banking) (33.8%), real estate (17.4%), transport (16.4%), restaurants (+15.8%) and wholesale/retail (+15.8%).
Analysed by service domain, comparing the first quarter of 2008 with the first quarter of 2007, business receipts of the tourism, convention and exhibition services domain were up by 13.7%, mainly attributable to the year-on-year increase in inbound visitor arrivals.
During the same period, business receipts of the computer and information services domain also increased by 17.8%.
Compared with the fourth quarter of 2007, business receipts of most service industries recorded decreases in the first quarter of 2008.
In particular, the financing (except banking), real estate and banking industries registered notable decreases of 26.4%, 22.9% and 22.0% respectively, mainly attributable to the consolidation of local stock market and slowdown in trading activities in the property market.
On the other hand, wholesale/retail, restaurants and film entertainment industries recorded modest increases in business receipts. However, the Cencus and Statistics Department suggested that it should be borne in mind that this comparison might be affected by seasonal factors to some extent.
Data for compiling the business receipts indices are mainly based on the Quarterly Survey of Service Industries conducted by the C&SD, supplemented by relevant data provided by the Hong Kong Monetary Authority and the Hong Kong Tourism Board.
A service domain differs from a service industry, in that it comprises economic activities straddling different industries which are somehow related to a common theme.
It may include all economic activities carried out by all establishments in a service industry that is closely related to the domain.
Taking tourism services domain as an example, it includes all services of all hotels and travel agents; and some (those involving visitors as customers) but not all of the services of restaurants, retailers and transport operators.
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