F&B sector records revenue surge

Receipts of interviewed restaurants and similar establishments and retailers surged by 354.2% year-on-year, with receipts of Chinese Restaurants, Japanese & Korean Restaurants and Western Restaurants soaring by 738.1%, 455.0% and 355.0% respectively. Albeit from a low base, data from the Statistics and Census Service (DSEC) shows that sales of the interviewed retailers jumped by 455.7% year-on-year in July.  As regards the business expectations for August, 64% of the interviewed restaurants and similar establishments expected their receipts to remain stable month-on-month.