01
2
FRIDAY, MAY 22, 1981
THE CONSTRUCTION SECTOR REPORTED CONSIDERABLE IMPROVEMENT IN THE GENERAL BUSINESS SITUATION IN THE FIRST QUARTER OF 1981, TO A GREATER EXTENT THAN PREVIOUSLY PREDICTED. IT LOOKS FORWARD TO FURTHER SUBSTANTIAL IMPROVEMENT IN THE SECOND QUARTER OF 1981.
AS FOR THE SERVICES SECTORS, RESTAURANTS HAD PREVIOUSLY EXPECTED DETERIORATIONS IN THE BUSINESS SITUATION IN THE FIRST QUARTER, BUT REPORTED SOME IMPROVEMENTS INSTEAD, BECAUSE OF SEASONAL EFFECTS, A LOW SECOND QUARTER IS PREDICTED. HOTELS ARE MOVING OUT OF A LOW FIRST QUARTER INTO A HIGH SECOND QUARTER.
FIRMS IN THE WHOLESALE AND RETAIL TRADE EXPERIENCED SOME DETER FORATION IN THE FIRST QUARTER AS AGAINST AN EARLIER EXPECTATION OF IMPROVEMENT. THEY EXPECT FURTHER DETERIORATION IN THE SECOND QUARTER.
THE DEPARTMENT STATED THAT THE SURVEY DATA, OBTAINED WITH A_MINIMUM TIME LAG, WAS BASICALLY INTENDED TO PROVIDE ONE SOURCE OF REFERENCE FOR MAKING A QUICK ASSESSMENT OF THE CURRENT ECONOMIC SITUATION IN HONG KONG.
APART FROM A LIMITED NUMBER OF QUESTIONS REQUIRING ANSWERS IN QUANTITATIVE TERMS, FIRMS WERE ASKED TO COMPARE THE QUARTER JUST PAST WITH THE PREVIOUS QUARTER AND SIMILARLY FOR THE FORTHCOMING ONE, AND ONLY HAD TO INDICATE WHETHER, IN THE IR OPINION, A CERTAIN VARIABLE WAS +UP+, +SAME OR +DOWN+.
BALANCE OF OPINIONS OF RESPONDENTS WERE TABULATED AND ANALYSED, AND WHERE APPROPRIATE THEY WERE INTERPRETED ALONG WITH RESULTS OBTAINED IN EARLIER SURVEYS.
THE DEPARTMENT CAUTIONED THAT IN A SURVEY OF THIS NATURE, CONSIDERABLE RESERVATIONS MUST BE MADE IN THE INTERPRETATION OF RESULTS AS IT WAS DIFFICULT TO ESTABLISH PRECISELY THE EXTENT TO WHICH RESPONDENTS' PERCEPTION OF THE PAST AND THE FUTURE ACCORDS WITH THE UNDERLYING TRENDS.
COPIES OF THE REPORT, CONTAINING AN ANALYSIS AND STATISTICAL TABLES ON VARIOUS ECONOMIC VARIABLES, HAVE BEEN DISTRIBUTED TO FIRMS TAKING PART IN THE SURVEY AND OTHER BUSINESS ORGANISATIONS.
MEMBERS OF THE PUBLIC MAY OBTAIN COPIES FROM GOVERNMENT PUBLICATIONS SALES CENTRE, CENTRAL POST OFFICE BUILDING, AT $3 PER COPY.
13