Net output in all service activities taken together fell 7.2% in real terms in the first quarter from a year earlier, compared with the decrease of 2.3% in Q4 last year, the Census & Statistics Department announced today.

Net output in the wholesale, retail and import and export trades, restaurants and hotels sector slumped 15.2% in real terms in Q1from a year earlier, compared with the 2.1% drop in Q4. The fall was mainly due to the drop in merchandise exports owing to the sharp plunge in global demand and the acute fall-off in intra-regional exports.

The transport, storage and communications sector recorded a year-on-year decrease of 8.1% in real terms of the net output in Q1, compared with the year-on-year decrease of 4.3% recorded in the previous quarter. Transport and storage services plummeted along with the setback in external trade activities.

Net output of the financing, insurance, real estate and business-services sector fell 7.1% in Q1 from a year earlier, compared with the 4.9% fall in Q4 last year. The fall was recorded as the local stock prices suffered further losses, trading remained subdued and fundraising activities slouched.

Manufacturing output dips 11.6%

Net output in the local manufacturing sector fell 11.6% in the Q1 from a year earlier, compared with the decrease of 10.4% in Q4.

Net output in the community, social and personal services sector rose 0.5% in Q1 over a year earlier, compared with the 0.7% rise in Q4.

Net output in the electricity, gas and water sector fell 1.2% in Q1 from a year earlier, compared with the rise of 2.2% in Q4.