BER Other Services Survey
Other services survey, 2022Q2
Last updated: Jun 27 2022 7:35AM
Confidence in the other services sector rebounded to 52 in the second quarter. Activity expanded strongly in the hospitality sector for the third quarter in a row but weakened considerably in the transport sector. After a very strong first quarter, real
read moreConfidence in the other services sector rebounded to 52 in the second quarter. Activity expanded strongly in the hospitality sector for the third quarter in a row but weakened considerably in the transport sector. After a very strong first quarter, real estate activity drifted down in the second quarter. Activity in the crucial business services sector at long last staged a recovery. GDP growth in the second quarter is likely to benefit from the delayed recovery of the other services sector.
Other Services Survey (History Data), 2022
Last updated: Jun 27 2022 7:37AM
Confidence in the other services sector rebounded from 43 to 52 in the second quarter.
Other services survey, 2022Q1
Last updated: Mar 28 2022 8:21AM
Despite the decline in business confidence, business volumes improved noticeably across all sub-sectors relative to the fourth quarter. The increase in activity in hotels and restaurants was particularly strong. Freight transport services continued to
read moreDespite the decline in business confidence, business volumes improved noticeably across all sub-sectors relative to the fourth quarter. The increase in activity in hotels and restaurants was particularly strong. Freight transport services continued to recover. The absence of international tourists kept on hampering passenger transport services. Real estate agents saw interest from buyers returned, but property management continued to struggle. The crucial business services sector recovered strongly once more in the first quarter. The further considerable improvement in activity in the other services sector bodes well for the GDP growth rate in the first quarter.
Other Services Survey (History Data)
Last updated: Mar 28 2022 8:24AM
Confidence in the other services sector declined by 6 points to 43 in the first quarter of 2022.
Other services survey, 2021Q4
Last updated: Dec 13 2021 8:13AM
The confidence of hotels and restaurants surged from 11 to 58 on the back of bumper reservations from local and foreign visitors. The 47-point jump was the largest increase between consecutive quarters ever recorded. However, instead of a better high season
read moreThe confidence of hotels and restaurants surged from 11 to 58 on the back of bumper reservations from local and foreign visitors. The 47-point jump was the largest increase between consecutive quarters ever recorded. However, instead of a better high season bringing the hospitality industry a reprieve, the international travel bans and the onset of the fourth COVID-19 wave locally shortly after completion of the fieldwork have dealt the tourism industry a heavy blow. A snap poll in early December indicated that confidence in the hospitality sector more than halved.
Other Services Survey (History Data), 2021
Last updated: Dec 13 2021 8:15AM
Confidence in the other services sector jumped from 37 in the third quarter to 49 in the fourth quarter of 2021.
Other services survey, 2021Q3
Last updated: Sep 29 2021 8:14AM
Although the further improvement of confidence in the other services sector during the third quarter is a welcome development, this was limited to the business services sub-sector. The harsher lockdown and unrest hit confidence in all the other sub-sectors
read moreAlthough the further improvement of confidence in the other services sector during the third quarter is a welcome development, this was limited to the business services sub-sector. The harsher lockdown and unrest hit confidence in all the other sub-sectors (accommodation, hospitality, transport and real estate).
Other services survey, 2021Q2
Last updated: Jun 30 2021 8:24AM
Confidence in the other services sector rose for the fourth consecutive quarter, from 30 in the first quarter to 34 in the second quarter. Despite the increase, the level of confidence remained low relative to the other sectors covered by the BER, bar the
read moreConfidence in the other services sector rose for the fourth consecutive quarter, from 30 in the first quarter to 34 in the second quarter. Despite the increase, the level of confidence remained low relative to the other sectors covered by the BER, bar the building sector. The upswing in real estate activity and land freight transport gained further traction. In contrast, the improvement in activity in hotels, restaurants and business services was modest. The move to adjusted alert level 4 on 28 June (i.e. after the completion of the survey), which prohibited alcohol sales and limited restaurants to take-aways, is likely to set back the recovery of restaurants and lead to another round of permanent closures and job losses.
Other services survey, 2021Q1
Last updated: Mar 31 2021 8:23AM
Although the first quarter’s further improvement of confidence and activity in the other services sector are welcome developments, bar property sales, these indicators remained at deeply depressed levels. The absence of international tourists, as well as
read moreAlthough the first quarter’s further improvement of confidence and activity in the other services sector are welcome developments, bar property sales, these indicators remained at deeply depressed levels. The absence of international tourists, as well as COVID-related restrictions (such as the permitted number of people at gatherings) and anxiety, are hurting the hospitality, conferencing, exhibition and passenger transport industry in particular. A stronger, sustainable recovery in these industries is only likely to start in 2022 once vaccinations have been rolled out more widely and international travel resumes. Growth in freight transport, property management and business services is likely to be pedestrian until the recovery of the rest of the economy gains further traction.
Other Services Survey (History Data), 2020
Last updated: Jan 19 2021 8:59AM
Other services confidence jumped from 17 in the third quarter to 27 in the final quarter of 2020. Although the 10-point jump is encouraging, the poor performance of especially hotels, restaurants and business services indicates that conditions were still far
read moreOther services confidence jumped from 17 in the third quarter to 27 in the final quarter of 2020. Although the 10-point jump is encouraging, the poor performance of especially hotels, restaurants and business services indicates that conditions were still far from favourable in the other services sector.