Almost half of senior managers expects business situation to be worse in Q2

Accomodation and food services worst hit amongst all sectors.

Nearly half or 44% of senior management from about 560 establishments expect Hong Kong’s business situation to worsen in Q2 compared to Q1, according to the Census and Statistics Department (C&SD). Only 7% of the respondents stated that they’re expecting it to be better.

Most of those who are projecting a weaker business landscape are under the accommodation and food services, transportation, storage and courier services, import/export trade and wholesale, retail, professional and business services, financing and insurance, and real estate sectors.

On the other hand, more respondents in the information and communications sector expect their volume of business to increase.

Respondents across all sectors expect their employment to remain unchanged or to fall in Q2, mostly from accommodation and food services, and retail sectors.

Selling prices and service charges are also expected to either remain flat or to go down on balance in Q2, especially in the construction and accommodation and food services sector.