MACAO, September 19 – Information from the Statistics and Census Service (DSEC) indicates that due to the lingering effects of the coronavirus pandemic, the receipts of restaurants and similar establishments surveyed have fallen by 71.4% year on year. on the other in July 2022. Revenues from Chinese restaurants and Japanese and Korean restaurants fell 85.6% and 83.1% respectively. Meanwhile, sales at surveyed retailers fell 82.0% year-on-year in July; Leather Goods Retailers (-96.3%), Watches, Clocks & Jewelry Retailers (-95.6%), Department Stores (-93.8%) and Cosmetics & Sanitary Retailers (-91.3%) %) all posted a drop of more than 90% in their sales, while Supermarkets (+28.7%) recorded an increase.
Compared to June, the receipts of restaurants & similar surveyed fell by 52.5% in July; revenue from Chinese restaurants and Japanese and Korean restaurants decreased by 73.0% and 71.7% respectively. Additionally, sales at surveyed retailers fell 66.4% month-on-month in July; Leather Goods Retailers (-93.2%), Watches, Clocks & Jewelry Retailers (-90.2%), Cosmetics & Sanitary Retailers (-83.1%) and Department Stores (-82.4%) %) recorded a significant drop in sales, while supermarkets (+ 8.2%) recorded an increase.
Regarding business expectations for the month of August, most restaurants and similar establishments and retailers surveyed expected a monthly increase in revenue, as no new cases of infection were discovered in the community as of the end. of the month of July. 80% of restaurants and similar establishments surveyed expect revenue to increase month-over-month in August, with corresponding shares for Japanese and Korean restaurants and local-style cafes, congee and convenience stores noodles reaching 91% and 88% respectively. In contrast, about 13% of establishments surveyed expected revenue to decline month-over-month in August. Meanwhile, 78% of retailers surveyed expected month-over-month sales growth in August. All automotive retailers and cosmetics and sanitary ware retailers surveyed expected higher sales in August, and the corresponding share for watch, clock and jewelry retailers was 91%. In contrast, 6% of retailers surveyed expected lower month-on-month sales in August, and the corresponding proportion for supermarkets (44%) was the highest.
The business outlook index (BOI), which reflects the trend of monthly variations in revenue anticipated by the establishments surveyed, was above 50 for restaurants and similar establishments (83.3) and retail trade (85.8) , indicating that respondents in both industries were expecting better business prospects in August compared to July.
The Restaurant and Similar Establishments and Retail Business Climate Survey sample includes 229 restaurants and similar establishments and 161 retailers, which accounted for 53.5% and 70.6% of industry revenue respectively in 2019. The results of the survey have not been extrapolated. The commercial performance of the reference month is reflected by the evolution of the receipts of the establishments and merchants of the sample of the reference month compared to the month of comparison. The BOI value is between 0 and 100; an index value above 50 implies that the industry has higher trading expectations for the coming month compared to the comparison month, while an index value below 50 indicates the opposite.
