Core Insights - The business sentiment and expectations for the next month among small and medium-sized enterprises (SMEs) in Hong Kong have improved further in October 2023, continuing the upward trend observed since the second half of the year [1] Group 1: Current Business Conditions - The current business revenue index for SMEs rose from 43.8 in September to 44.8 in October, indicating a shift from contraction towards expansion [1] - The business revenue outlook index for November is projected at 47.5, suggesting continued optimism among SMEs [1] Group 2: Industry-Specific Analysis - Most industries surveyed showed an increase in the current business revenue index compared to the previous month, with the food and beverage sector rising from 38.8 to 40.7, and the retail sector increasing from 42.8 to 44.5 [1] - The current business revenue index for the import and export trade sector increased from 46.5 in September to 47.1 in October, with a forecast of 47.6 for new orders in November [1] Group 3: Economic Outlook - A government spokesperson indicated that the stable employment situation and the anticipated robust growth of the Hong Kong economy will provide strong support for local business sentiment [1] - However, ongoing external uncertainties remain a point of concern that needs to be monitored [1]

Core Insights - The current business situation index for small and medium-sized enterprises (SMEs) in Hong Kong increased from 43.8 in September 2025 to 44.8 in October 2025, indicating a slight improvement in business conditions [1] - The business outlook index for the next month (November 2025) stands at 47.5, suggesting a positive sentiment among SMEs [1] Industry Analysis - The business situation index for the food and beverage industry rose from 38.8 to 40.7, while the retail industry saw an increase from 42.8 to 44.5 in October 2025 [1] - The current business situation index for the import and export trade sector increased from 46.5 in September 2025 to 47.1 in October 2025, with a future outlook index of 47.6 for November 2025 [1] Economic Outlook - The business atmosphere for SMEs in October 2025 has improved, continuing the upward trend observed since the beginning of the second half of the year [1] - Overall employment conditions remain stable, and the Hong Kong economy is expected to grow steadily, providing strong support for local business sentiment [1] - However, ongoing external uncertainties will need to be monitored closely by the government [1]

Retail Industry - In June 2025, the electronic payment transaction amount in Macau's retail industry was 3.73 billion MOP, reflecting a year-on-year decline of 1.5% [1] - The department store sector showed improvement, with a year-on-year decline of 2.2% in June, while the leather goods sector recorded a 6.6% increase [1] - Compared to May, the retail transaction amount decreased by 11.8%, with jewelry and pharmacy sectors experiencing declines of 21.1% and 19.5% respectively, while leather goods saw a slight increase of 1.0% [1] Food and Beverage Industry - In the first half of 2025, the food and beverage sector's transaction amount increased by 3.1% to 6.75 billion MOP, while the retail sector's transaction amount decreased by 10.2% to 25.05 billion MOP [2] - In June 2025, the food and beverage transaction amount rose by 2.2% to 1.06 billion MOP, with fast food restaurants showing a significant increase of 12.9% [2] - The food and beverage sector experienced an 8.5% decline in transaction amount compared to May, with tea restaurants and Chinese restaurants seeing declines of 10.9% and 9.4% respectively [2][4]