MACAO, February 18 – Information from the Statistics and Census Service (DSEC) indicated that 56% of restaurants and similar establishments surveyed reported a year-over-year increase in revenue or stable performance in December 2021, representing a growth of 6%. points from November; the corresponding proportion of Japanese and Korean restaurants (44%) increased by 20 percentage points. Meanwhile, the proportion of retailers surveyed reporting a year-over-year sales increase or stable performance in December (66%) rose 10 percentage points from the previous month. The corresponding shares of watch, clock and jewelry retailers (77%) and motor vehicle retailers (46%) both increased by 27 percentage points, and the shares of supermarkets (78%) and leather goods retailers ( 80%) increased by 22%. points and 20 percentage points respectively. For the Business Performance Index (BPI) which reflects the trend of year-over-year changes in business revenue, the value of restaurants and similar establishments (41.2) was below 50 in December 2021, indicating that the trade performance of the industry was less satisfactory compared to the same month in 2020. On the other hand, the BPI of the retail trade (58.6) is above 50, which implies that the activity of the industry is doing better than in December 2020.
In terms of business expectations for January 2022, 41% of restaurants and similar establishments surveyed expected their revenue to decline month over month, up 30 percentage points from December 2021. The corresponding shares of Western restaurants (62%), Chinese restaurants (35%) and Japanese and Korean restaurants (48%) increased by 54 percentage points, 29 percentage points and 24 percentage points respectively. Meanwhile, 42% of retailers surveyed expected month-over-month sales to decline in January 2022, up 34 percentage points from December 2021. The corresponding proportion of watch, clock and jewelry (59%) jumped 59 percentage points. , and the shares of motor vehicle retailers (91%) and cosmetics and sanitary ware retailers (64%) jumped 55 percentage points. The business outlook index (BOI), which reflects the trend of monthly variations in revenue anticipated by the establishments surveyed, was below 50 for restaurants and similar establishments (37.3) and retail trade (40.4) , indicating that respondents in both industries expected a less favorable business outlook in January 2022 compared to December 2021.
For the whole of 2021, there were 5 months in the first half where the BPI exceeded 50 for both restaurants & similar establishments and retail trade. However, both industries recorded BPI above 50 in just 2 months and 4 months respectively in the second half of the year, attributable to import-related coronavirus infection cases.
The Business Climate in Restaurants and Related Establishments and Retail Trade sample includes 229 restaurants and related establishments and 161 retailers, which accounted for 53.5% and 70.6% of industry revenue respectively in 2019. The BPI and BOI values vary between 0 and 100; an index value greater than 50 implies that the industry has better trading performance in the reference month or higher trading expectations for the coming month compared to the comparison month, whereas an index value less than 50 indicates the opposite. The survey results have not been extrapolated and only reflect the assessment of the business performance and expectations of the restaurants and retailers in the sample.