Business receipts indices for service industries for third quarter
Business receipts in the insurance industry registered a strong growth of 21% in value terms in the third quarter of this year over the same quarter last year, according to statistics released today (Friday) by the Census and Statistics Department.
This was mainly attributable to a large increase in life insurance business.
Business receipts in the wholesale industry also rose by 16% over the same period, mainly owing to an increase in transactions in consumer goods and foodstuffs.
Notable increases in business receipts were also registered in the following service industries: storage (+12%); communication (+11%) and import/export (+11%).
However, business receipts in the banking and restaurant industries decreased slightly by 1% and 2% respectively.
Compared with the second quarter this year, the transport, import/export and wholesale industries showed increases of 19%, 15% and 14% respectively, with the hotels industry showing a 6% decrease.
Table 1 presents the provisional business receipts indices for the third quarter of 1994.
Revised indices for the second quarter of 1994 are also included. The quarterly average of business receipts in 1992 was taken as 100.
Statistics on banking are obtained from the Hong Kong Monetary Authority; and those on retail and restaurant business are obtained from two existing surveys regularly conducted by the Census and Statistics Department.
The report "Quarterly Business Receipts Indices for Service Industries, Third Quarter 1994" is now on sale at $6 a copy at the Government Publications Centre, Queensway Government Offices, Low Block, Ground Floor, 66 Queensway, Hong Kong.
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