Commercial buildings stand in the Central area of Hong Kong, Jan 20, 2017. (EDMOND TANG / CHINA DAILY)
HONG KONG – Fewer enterprises expect a better business situation in the fourth quarter of 2021 than they did in the third quarter, while the proportion is still slightly higher than those who expect the situation to worsen, a quarterly survey by the government found.
About 14 percent of people surveyed expect their business situation to be better in the fourth quarter, while the ratio of those expecting it to be worse is 13 percent.
The report indicated a 3 percent drop in the proportion of respondents expecting a better business situation, down from 17 percent. The proportion of respondents who expect a worse business situation has increased by 2 percent.
The report indicated a 3% drop in the proportion of respondents expecting a better business situation, down from 17%. The proportion of respondents who expect a worse business situation has increased by 2%
The survey was based on the short-term business performance views of senior management of about 560 enterprises covering 10 major sectors in Hong Kong, including manufacturing, construction, import/export trade and wholesale, retail, accommodation and food services, information and communications, real estate, as well as the professional and business services sectors.
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The report also showed that more respondents expect a rise in their volume of business, or output, in the fourth quarter compared with three months ago, especially for the accommodation and food services sector.
Meanwhile, more respondents in the surveyed sectors forecast that their employment will remain broadly unchanged or increase, compared with the previous quarter. More respondents in the accommodation and food services sector and construction sector expect an increase in employment in the fourth quarter.
A government spokesperson noted that business sentiment among large enterprises has turned more cautious compared to the previous quarter, as the COVID-19 pandemic has continued and brought uncertainty to the global economy.
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“Nevertheless, large enterprises in such sectors as retail, accommodation and food services, real estate, manufacturing as well as information and communications continued to expect further business expansion in the near term. Meanwhile, hiring sentiment held steady in overall terms.”
In addition, more respondents believe their selling prices or service charges will remain unchanged or go up, compared with the last survey period.
aoyulu@chinadailyhk.com