CONFIDENTIAL #3
Table 1
Investment in plant and machinery
(all growth rates quoted in this section are on a
year-on-year
comparison and are expressed in real
terms, unless otherwise indicated)
3.
1990.
(a) Capital
machinery
expenditure on plant and
According to the preliminary quarterly
estimates, overall expenditure on plant and
machinery rose by about 2% in the third quarter,
following an increase of 1% in the first half of
In the second half of 1989, there was a
decline of 8%. Investment by the private sector,
which accounted for about 97% of the total, showed
increase of about 1% in the third quarter, same
as in the first half of the year. Due to a low
base of comparison in the third quarter of 1989, public sector expenditure on plant and machinery
rose by 47% in the third quarter of 1990. A
decline of 13% was recorded in the first half of
the year (Table 1).
an
(b) Retained imports of capital goods
4.
Subject
to
certain
statistical
Table 2
limitations, retained imports of capital goods
provide another useful indicator of the latest
trend in investment in plant and machinery. These
retained imports showed an increase about 4% in
the third quarter of 1990, compared with a decline
of 14% in the second half of last year, and zero growth in the first half of this year. (Table 2).
For the first three quarters of 1990 as a whole,
these retained imports
about 1%.
recorded
an increase of
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