April 25, 2024
The Census and Statistics Department (C&SD): the results of the Quarterly Business Tendency Survey for the second quarter (Q2) of 2024.
Business situation
For all surveyed sectors taken together, the proportion of respondents expecting their business situation to be better (14%) in Q2 2024 over the preceding quarter is slightly higher than that expecting it to be worse (12%).
When compared with the results of the Q1 2024 survey round, the proportion of respondents expecting a better business situation in Q2 2024 is 14%, slightly higher than the corresponding proportion of 13% in Q1 2024, while the proportion of respondents expecting a worse business situation in Q2 2024 is broadly the same as the corresponding proportion in Q1 2024 (12%).
Analysed by sector, more respondents in the financing and insurance sector expect their business situation to be better in Q2 2024 as compared with Q1 2024. On the other hand, more respondents in the retail and construction sectors expect their business situation to be worse, as compared to those expecting it to be better.
The results of the survey should be interpreted with care. In this type of survey on expectations, the views collected in the survey are affected by the events in the community occurring around the time of enumeration, and it is difficult to establish precisely the extent to which respondents’ perception of the future accords with the underlying trends. The enumeration period for this survey round was from March 2, 2024 to April 11, 2024.
Volume of business/output
Respondents in quite a number of the surveyed sectors expect their volume of business/output to decrease on balance or remain broadly unchanged in Q2 2024 as compared with Q1 2024. In particular, more respondents in the retail sector expect their volume of sales to decrease in Q2 2024 over Q1 2024. On the contrary, more respondents in the financing and insurance sector expect their volume of business to increase, as compared to those expecting it to decrease.
Employment
Respondents in most of the surveyed sectors expect their employment to increase on balance or remain broadly unchanged in Q2 2024 as compared with Q1 2024. In particular, more respondents in the real estate, financing and insurance, accommodation and food services and construction sectors expect their employment to increase in Q2 2024 over Q1 2024. In the information and communications sector, however, more respondents expect their employment to decrease, as compared to those expecting it to increase.
Selling price/service charge
Respondents in most of the surveyed sectors expect their selling prices/service charges to remain broadly unchanged in Q2 2024 as compared with Q1 2024. In the accommodation and food services sector, however, more respondents expect their charges for services rendered/prices of food provided to go up in Q2 2024 over Q1 2024. On the other hand, more respondents in the retail sector expect their selling prices to go down, as compared to those expecting them to go up.
Source: Census and Statistics Department of Hong Kong
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