Comment
8. As long as recovery particularly in the USA
is sustained, the Territory can expect to achieve the rather limited growth target of 4% in 1983. As far as prospects for the medium- term are concerned it is important that investment recovers. At constant (1973) prices, investment in private plant and machinery fell by over 6% in 1982. Should this persist, it would be an
and one would hope to see signs
indication that general uncertainty was restricting new investment of this
and diversification into technologically more advanced goods, and that the Territory's dynamic competitiveness could be a thing of the past. The behaviour of the exchange rate insofar as it reflects capital account flows may be a pointer to this during the remainder of the year.
-
end of
By the
the
year
9 June 1983
Nick Hallett
N O Hallett
ESID
WH425B
233 5335
0