41pct of restaurants reported revenue growth in May

Forty-one percent of interviewed restaurants and similar establishments reported year-on-year revenue growth in May, down by 6 percentage points from April, according to the latest data from the Statistics and Census Service (DSEC).

On the other hand, the share of interviewed establishments recording a year- on-year decline in revenue over April increased by 7 percentage points to 29 percent.

The interviewed restaurants expected their business to remain stable in June, with 82 percent anticipating a year-on-year rise in revenue or a steady performance, up by 2 percentage points from May. Meanwhile, 18 percent of the interviewed establishments anticipated a year- on-year decline in revenue.

With regards to the retail trade, 69 percent of interviewed retailers reported a year-on-year sales increase in May, up by 2 percentage points from April. All interviewed leather goods retailers, 89 percent of supermarkets and 83 percent of watch, clock and jewelry retailers showed a year-on-year rise in sales in May.

Meanwhile, 14 percent of the interviewed retailers registered a year-on-year sales decline, down by 3 percentage points from April.

Retailers were more optimistic about their business prospects in June, with 83 percent predicting a year- on-year sales increase or a steady performance, up by 4 percentage points from May. On the other hand, 17 percent of the interviewed retailers expected a year- on-year decline in sales.

The sample of the Business Climate Survey on Restaurants & Similar Establishments and Retail Trade was selected based on the value of revenue of the establishments, comprising 167 restaurants and 135 retailers.

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