More than half of restaurants surveyed by the Statistics and Census Service (DSEC) reported a year-on-year growth in revenue in January 2017.
The data released yesterday indicates that 61 percent of interviewed restaurants and similar establishments reported a year-on-year growth in revenue in January; a substantial increase of 27 percentage points from December 2016.
However 28 percent of the interviewed restaurants & similar establishments reported a year-on- year decline in revenue, down by 16 percentage points from December 2016.
For retail, 53 percent of retailers reported a year-on-year increase in sales in January 2017, up by 11 percentage points from December 2016.
All leather goods retailers reported higher year-on-year sales in January 2017.
Restaurant managers said they expected slower business after the Lunar New Year, with 56 percent anticipating revenues to increase year-on-year or remain stable in February.
However, 44 percent of restaurants and similar establishments predicted a year-on-year decline in receipts.
Retailers also expected less business in February, according to DSEC. 17 percent of retailers said they anticipated a year-on-year increase in sales in February, a month-on-month decline of 8 percentage points.
The sample of the Business Climate Survey on Restaurants and Similar Establishments and Retail Trade was selected based on the aggregate value of the establishments’ revenue, comprising 167 restaurants and similar establishments, as well as 135 retailers.