TUESDAY, FEBRUARY 13, 1979
REPORT ON THE QUARTERLY BUSINESS SURVEY ******
THE CENSUS AND STATISTICS DEPARTMENT HAS COMPILED A REPORT ON A QUARTERLY BUSINESS SURVEY HELD LAST MONTH,
ABOUT 750 FIRMS FROM VARIOUS INDUSTRIES, FORMING A CROSS- SECTION OF THE ECONOMIC COMMUNITY, WERE ASKED ABOUT THEIR BUSINESS EXPERIENCE IN THE FOURTH QUARTER OF 1978 AND THEIR BUSINESS EXPECTATION FOR THE FIRST QUARTER THIS YEAR.
THE SURVEY SUGGESTS THAT THE HONG KONG ECONOMY EXPERIENCED MUCH IMPROVEMENT IN THE LAST QUARTER OF 1978 COMPARED WITH THE PREVIOUS QUARTER BUT FIRMS WERE RATHER CONSERVATIVE IN THEIR VIEWS ON PROSPECTS FOR THE FIRST QUARTER OF 1979, PARTLY BECAUSE OF SEASONAL FACTORS.
WITHIN THE MANUFACTURING DIVISION, 'WATCHES AND CLOCKS' 'ELECTRICAL MACHINERY, APPLIANCES AND SUPPLIES' AND 'FABRICATED METAL PRODUCTS' REPORTED IMPROVED PERFORMANCE AND ARE CONFIDENT OF FURTHER ADVANCES.
'ELECTRONICS' AND 'MISCELLANEOUS MANUFACTURING INDUSTRIES" EXPECT A RELATIVELY CALM FIRST QUARTER AFTER SUBSTANTIAL RECENT ADVANCES.
*WEARING APPAREL' AND 'TEXTILES' BOTH REPORTED IMPROVEMENT IN THE FOURTH QUARTER BUT EXPECT BUSINESS IN THE FIRST QUARTER EITHER TO SLOW DOWN OR TO REMAIN THE SAME COMPARED WITH THE PREVIOUS QUARTER. THE SAME APPLIES TO 'PRINTING".
THE 'FOOD, BEVERAGE TOBACCO SECTOR, AFTER EXPERIENCING SOME DETERIORATION IN THE FOURTH QUARTER, IS EXPECTING AN UPTURN.
THE 'PLASTICS' SECTOR ALSO HAD A POORER FOURTH QUARTER AND THE BALANCE OF OPINION WITHIN THE SECTOR IS THAT A FURTHER SLOW DOWN IS LIKELY.
AS FOR NON-MANUFACTURING SECTORS, 'WHOLESALE AND RETAIL TRADE", "RESTAURANTS' AND, IN PARTICULAR, THE 'HOTELS' SECTORS HAD A PROSPEROUS FOURTH QUARTER BUT EXPECT A LOWER FIRST QUARTER.
BUT 'GAS, ELECTRICITY AND WATER INDUSTRY EXPECTS A HIGHER FIRST QUARTER AFTER A FALLING FOURTH QUARTER. THE CONSTRUCTION
INDUSTRY REPORTED IMPROVEMENTS AND EXPECTS FURTHER MILD ADVANCE.
THE OTHER SERVICES SECTORS DID REMARKABLY WELL AND, LOOKING INTO THE IMMEDIATE FUTURE, THE 'MISCELLANEOUS BUSINESS SERVICES' SECTOR FEELS APPRECIABLE OPTIMISM.
THE BANKS SECTOR EXPECTS MORE OR LESS THE SAME BUSINESS AND 'TRANSPORTATION' EXPECTS A MILD SLOW DOWN.
/+THE DATA,