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THURSDAY, AUGUST 17, 1978
REPORT ON QUARTERLY BUSINESS SURVEY
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THE CENSUS AND STATISTICS DEPARTMENT HAS COMPILED A REPORT ON A QUARTERLY BUSINESS SURVEY HELD IN JULY 1978.
IN THE SURVEY, ABOUT 700 FIRMS FROM VARIOUS INDUSTRIES, FORMING A CROSS-SECTION OF THE ECONOMIC COMMUNITY, WERE ASKED ABOUT THEIR BUSINESS EXPERIENCE IN THE SECOND QUARTER OF 1978, AND THEIR BUSINESS EXPECTATIONS FOR THE THIRD QUARTER.
THE RESULTS OF THE SURVEY SUGGESTED THAT THE HONG KONG ECONOMY, AFTER EXPERIENCING A SECOND QUARTER WHICH SUBSTANTIALLY IMPROVED OVER THE FIRST QUARTER, WAS EXPECTING FURTHER IMPROVEMENTS IN THE THIRD QUARTER,
WITHIN THE MANUFACTURING DIVISION, PLASTICS AND FOOD, BEVERAGE, AND TOBACCO REPORTED REMARKABLE PERFORMANCES IN THE SECOND QUARTER AND EXPRESSED SIGNIFICANT OPTIMISM FOR THE THIRD QUARTER.
FABRICATED METAL PRODUCTS AND ELECTRICAL MACHINERY, APPLIANCES AND SUPPLIES DID VERY WELL IN THE SECOND QUARTER AND WERE EXPECTING MODERATE IMPROVEMENTS.
FOR PRINTING, ELECTRONICS AND WATCHES AND CLOCKS, BUSINESS IN THE SECOND QUARTER WAS STEADY AND THEY WERE CONFIDENT OF FURTHER IMPROVEMENTS.
WEARING APPAREL AND TEXTILES EXPECTED THEIR STEADY SECOND QUARTER BUSINESS TO CARRY FORWARD INTO THE IMMEDIATE FUTURE.
FOR NON-MANUFACTURING INDUSTRIES, CONSTRUCTION AND GAS, ELECTRICITY AND WATER CONTINUED TO REPORT GOOD PERFORMANCES AND OPTIMISTIC EXPECTATIONS.
WHOLESALE AND RETAIL TRADE ACHIEVED A SATISFACTORY SECOND QUARTER, DESPITE EARLIER EXPECTATIONS WHICH PREDICTED OTHERWISE= AND EXPECTED MILD ADVANCES.
HOTELS AND TRANSPORTATION BOTH HAD A HIGH SECOND QUARTER AND EXPECTED SOME SLOW-DOWN TO COME, PROBABLY DUE TO SEASONAL EFFECTS.
RESTAURANTS, THE ONLY SECTOR REPORTING DETERIORATIONS IN THE SECOND QUARTER, LOOKED FORWARD TO MUCH BETTER PROSPECTS. BANKS AND MISCELLANEOUS BUSINESS SERVICE CONTINUED TO ADVANCE STEADILY.
A SPECIAL QUESTION ON INVESTMENT INTENTION FOR 1978 AS A WHOLE WAS INCLUDED IN THE SURVEY. IT WAS OBSERVED THAT DIFFERENT SECTORS REPORTED WIDELY DIFFERENT INVESTMENT INTENTIONS IN MACHINERY AND EQUIPMENT FOR OWN USE IN 1978 COMPARED WITH 1977.
/ITHIN E