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Hong Kong Economic
& Financial Round-up
RE:
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TAM 1303
HONG KONG ECONOMY
ان
Issue No. 1/93
231 1
Overview
In November 1992:
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On external trade, re-exports remained robust, growing by 21% in value terms compared with a year earlier. Domestic exports, on the other hand, registered a marginal decline of 0.6%. Imports continued to rise significantly, by 20% over the same period (Charts I, II and III).
Domestic demand in both consumption and investment remained buoyant. While retained imports of capital goods grew further, retail sales continued to increase (Charts IV and V).
The labour market remained generally tight, with both the seasonally adjusted unemployment rate and the underemployment rate staying below 2% in the three months ending November 1992 (Chart VI).
Consumer price inflation moderated further, to 9.2%, as a result of lower vegetable prices and slower increase in charges for meals at restaurants (Chart VII).
In December 1992:
Local money market interest rates softened after the surge in late November (Chart VIII).
The market exchange rate of the Hong Kong dollar against the US dollar remained stable under the linked exchange rate system. The overall exchange value of the Hong Kong dollar, as indicated by the effective exchange rate index, rose marginally (Chart IX).
The Hang Seng Index plunged in the first few days of December amidst the political row over constitutional development. Share prices then recovered slightly. Amidst uncertainty over developments on the political front, market turnover decreased (Chart X)
Please see pages 2-6 for the charts referred to above.
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HONG KONG GOVERNMENT OFFICE
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