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THURSDAY, NOVEMBER 7, 1974.
HOWEVER, IT WAS PROBABLE THAT A NUMBER OF THESE WORKERS HAVE BEEN ABSORBED ELSEWHERE IN THE ECONOMY RATHER THAN THAT UNEMPLOYMENT HAS RISEN SUBSTANTIALLY.
+AT THE SAME TIME, THE SPOKESMAN ADDED, THE VISIBLE TRADE DEFICIT IS NOW NARROWING AGAIN AND THERE ARE ALSO INDICATIONS THAT THE TERMS OF TRADE ANE BEGINNING TO IMPROVE.+ IT APPEARED THAT IMPORT PRICES WERE INCREASING LESS RAPIDLY, WHILE EXPORT PRICES WERE +HOLDING UP.+
THE SPOKESMAN SAID THAT THE OVERALL BALANCE OF PAYMENTS, INCLUDING INVISIBLE AND CAPITAL TRANSACTIONS, STILL SEEMED TO BE IN SURPLUS AND THAT THIS WAS REFLECTED IN THE CONTINUING STRENGTH OF THE HONG KONG DOLLAR. +INDEED, HE ADDED, +THE HONG KONG ECONOMY IS SHOWING ITS USUAL REMARKABLE ABILITY TO ADJUST TO EXTERNAL EVENTS.+
+IT IS ALSO ENCOURAGING. TO SEE, THE SPOKESMAN CONCLUDED +THAT INTERNATIONAL INTEREST RATES AŘE NOV BEGINNING TO FALL FROM THEIR PERVIOUS VERY HIGH LEVELS AND THAT THIS IS BEING REFLECTED IN THE RATES CHARGED IN HONG KONG.
THIS WILL OBVIOUSLY BE WELCOME TO OUR TRADERS AND
MANUFACTURERS IN FULFILLING THEIR PLANS FOR EXPANSION,+ HE ADDED.
COPIES OF THE ECONOMIC REPORT FOR OCTOBER WILL BE AVAILABLE SHORTLY FROM THE GOVERNMENT PUBLICATIONS CENTRE AT $3.
NOTE TO EDITORS:
ADVANCE COPIES OF THE ECONOMIC REPORT FOR OCTODER WILL BE AVAILABLE FOR COLLECTION IN THE GIS PRESS BOXES THIS EVENING.
WATER SITUATION REPORT
*****
THE TOTAL WATER STORAGE IN ALL RESERVOIRS AS AT 9 AM TODAY (THURSDAY) STOOD AT 53,859 MILLION GALLONS, REPRESENTING 80 PER CENT OF THE FULL CAPACITY OF 67,300 MILLION GALLONS. AT THIS TIME LAST YEAR THERE WERE 60,148 MILLION GALLONS IN STORE.
GALLONS CON 12536 MILLION GALLONS ON THE SAME DAY
THIS MORNING'S STORAGE AT PLOVER COVE WAS 37,436 MILLION
LAST YEAR. PLOVER COVE'S PRESENT STORAGE REPRESENTS 74.1 PER CENT OF ITS FULL CAPACITY OF 50,500 MILLION GALLONS.
NO RAINFALL WAS RECORDED AT THE ROYAL OBSERVATORY DURING THE PAST 24 HOURS ENDING AT 9 AM TODAY. TOTAL RAINFALL RECORDED SO FAR THIS YEAR IS 2,100.8 MM (82.71 IN).
THE MEAN AVERAGE RAINFALL SINCE JANUARY 1 STANDS AT 2,105.5 MM (82.89 IN), REPRESENTING A SHORTFALL OF 0.22 PER CENT.
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