Catering and Retail Revenue Increased 22.6%

Revenue from all categories of restaurants and similar establishments interviewed increased in February compared to last year, with the most significant increase (64.1%) seen in Western-style restaurants. There was a year-on-year increase in revenue of 22.6% in restaurants and similar establishments in February, while that figure for retailers was 7%, according to data from the Statistics and Census Service (DSEC).

Among interviewed retailers, the revenue of cosmetics and sanitary products and leather goods both increased by more than 20%, while department stores saw a 10.7% decrease.

A month-on-month shrinking of 23.8% was recorded for surveyed Chinese restaurants in February, while the data for Western style restaurants showed a 3.4% growth compared to January, when the Lunar New Year took place. Restaurants and similar establishments and retail trade both saw revenue drop by more than 15%, of which adult clothing and supermarkets both fell by more than 30%.

Around 30% of restaurants and similar establishments and retailers expected revenue in March to drop compared to February, while more than 20% in both industries were more optimistic. 

As the index indicated, surveyed restaurants and similar establishments showed slightly lower confidence in their business performance in March compared to February, while interviewed retailers showed opposing expectations. Staff Reporter