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HK's restaurant receipts in Q4 up 8.3%

(Xinhua)
Updated: 2009-02-03 10:11

HONG KONG - Total restaurant receipts reached HK$20.3 billion (US$2.62 billion) in the fourth quarter of 2008, up 8.3 percent on the same period in 2007, said the Census and Statistics Department of Hong Kong SAR government on Monday.

Related readings:  HK residential-unit construction falls 38 percent in 2008  HK expects negative GDP growth

The total restaurant purchases reached HK$7.1 billion in the fourth quarter of 2008, up 8.4 percent on the same period in 2007. After discounting the effect of price changes, total restaurant receipts rose 2.6 percent in the fourth quarter of 2008 on a year earlier.

The value of total receipts for the restaurants sector in 2008 was 79 billion HK dollars, up 13.1 percent on 2007. The value of total restaurant purchases grew 17.2 percent to 28.2 billion HK dollars.

Total receipts of Chinese restaurants rose 9.9 percent, while non-Chinese restaurants up 5.3 percent, fast-food shops up 8.6 percent, and miscellaneous eating and drinking places up 4.3 percent. Total bar receipts rose 4.1 percent.

On a seasonally adjusted quarter-to-quarter comparison, the volume of total restaurant receipts dropped 1 percent in the fourth quarter of 2008 compared to the previous quarter.