Food and beverage industry reports challenging business conditions

The food and beverage industry faced challenging business conditions that remained mostly unchanged in the final months of 2019. According to data released yesterday by the Statistics and Census Service (DSEC), about 47% of surveyed restaurants reported a year-on-year decline in sales in November 2019, four percentage points more than in the previous survey in October.

At the same time, some 30% of sector respondents reported a rise in sales in November, amounting to two percentage points more than in October.

Asked about their business expectations for December, the majority of restaurants and similar establishments said they expected their sales to remain steady.

Among the most pessimistic were the owners of Japanese and Korean restaurants, which reported a 17% fall in the proportion of those expecting to report a steady or slight increase in the performance of their business.

In total, 48% of all sectors expected lower performance for the last month of 2019.

The retail sector is included in the same monthly survey. In November, 53% of interviewed retailers said that their business had improved year-on-year, while 31% of retailers reported a year-on-year sales decrease. DB

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