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Hong Kong : Quarterly business receipts indices for service industries for the second quarter of 2017.

Business receipts in value terms of almost all major service industries showed increases of different magnitudes in the second quarter of 2017 when compared with the second quarter of 2016, according to the provisional figures of business receipts indices released today (September 11) by the Census and Statistics Department (C&SD).

Comparing the second quarter of 2017 with the second quarter of 2016, double-digit increases were recorded in business receipts of the courier (+17.7%), real estate (+16.4%), and warehousing and storage (+10.2%) industries.

On the other hand, the banking industry recorded a decrease of 28.9% in business receipts during the same period.

Analysed by service domain, business receipts of the tourism, convention and exhibition services domain decreased by 2.1% year-on-year during the same period, whereas those of the computer and information technology services domain increased by 1.7% year-on-year.

On a seasonally adjusted quarter-to-quarter comparison, business receipts in value terms of a number of major service industries recorded increases of different magnitudes in the second quarter of 2017 when compared with the first quarter of 2017. In particular, business receipts of the financing (except banking), and warehousing and storage industries increased by 7.9% and 5.7% quarter-to-quarter respectively. On the other hand, the banking industry registered a decline of 5.2% in business receipts during the same period.

Comparing the second quarter of 2017 with the first quarter of 2017 and on a seasonally adjusted basis, business receipts of the tourism, convention and exhibition services domain increased by 0.2%, while those of the computer and information technology services domain also increased by 1.9%.

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 those economic activities which straddle different industries but are somehow related to a common theme. It may include all activities carried out by all establishments in a service industry that is closely related to the domain. For a service industry that is less closely related, however, only a portion of the establishments in the industry or even only part of the economic activities of the establishments is related to the domain. Taking the tourism, convention and exhibition services domain as an example, it includes all services of hotels and travel agents, and some (those involving visitors as customers) but not all of the services of restaurants, retailers and transport operators.

The classification of service industries follows the Hong Kong Standard Industrial Classification Version 2.0, which is used in various economic surveys for classifying economic units into different industry classes.

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Publication:Mena Report
Date:Sep 12, 2017
Words:475
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