One-third of restaurants report growth in December survey

The results of the latest “Business Climate Survey on Restaurants and Similar Establishments” were released yesterday in a statement published by the Statistics and Census Service (DSEC), showing that more than one-third of interviewed establishments reported a year-on-year growth in revenue in December 2016.

The 34 percent who reported the growth represents an increase of 4 percentage points over the previous month. The rise was attributed by DSEC to an increase in visitors in the city.

Meanwhile, the proportion interviewed that reported a year-on-year decline in revenue dropped by 6 percentage points over the previous month to 44 percent.

Interviewed restaurateurs had mixed opinions over their business prospects in January, with 30 percent anticipating a year-on-year rise (+10 percentage points compared with December) and 37 percent predicting a decline (-4 percentage points).

The “Business Climate Survey” also interviews retail traders to assess their performance and expectations for the month ahead. In the December survey, 42 percent of interviewed retailers reported year-on- year growth in sales, up by 3 percentage points from November.

On the other hand, about half of the retailers recorded a year-on-year decrease in sales, down by about 5 percentage points from November.

The proportion of interviewed retailers anticipating a year-on-year increase in sales in January rose by 2 percentage points to 25 percent, while 38 percent expected a decrease, down by 3 percentage points.