Chart of the Day: Accommodation, food sector growth shrink by 2.2% in Q2

It's the sector's worst performance in three quarters.

This chart from the Ministry of Trade and Industry Singapore (MTI) shows the accommodation & food services sector contracted by 2.2% in Q2

This extended the 1.7% decline recorded in the previous quarter.

Continued weakness in the food services segment continued to drag the sector down.

Sales for fast food and catering grew by 6.2% and 2.5%. On the downside, restaurant sales fell by 9.3%.

Other food and beverage sales also dipped by 1.2%.

Meanwhile, the accommodation segment was supported by healthy visitor arrivals in the second quarter, MTI said.

In terms of occupancy rates, luxury hotels fell by 0.9ppt, whilst upscale, mid-tier, and economy hotels all expanded by 2.2ppt, 0.6ppt, and 2.6ppt, respectively.