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THURSDAY, SEPTEMBER 30, 1982^
ZERO TO NEGATIVE GROWTH RATES ARE FORECAST FOR OUR DOMESTIC EXPORTS TO MAJOR MARKETS INCLUDING THE USA, THE UK AND THE FEDERAL REPUBLIC OF GERMANY.
+CHINA IS THE ONLY BRIGHT SPOT, WITH A SUBSTANTIAL INCREASE EXPECTED, SAID MR BREMRIDGE.
RE-EXPORTS
THE GROWTH RATE OF RE-EXPORTS IN REAL TERMS IS REVISED DOWNWARDS TO ZERO FROM THE BUDGET FORECAST OF 20 PER CENT.
IMPORTS
THE GROWTH RATE OF IMPORTS IN REAL TERMS IS ALSO REVISED DOWNWARDS TO MINUS 3 PER CENT AS COMPARED WITH THE BUDGET FORECAST OF PLUS 12 PER CENT.
PRIVATE CONSUMPTION EXPENDITURE
PRIVATE CONSUMPTION EXPENDITURE IS FORECAST TO GROW IN REAL TERMS BY THREE PER CENT, AS AGAINST THE SEVEN PER CENT GROWTH FORECAST IN THE BUDGET.
MR BREMRIDGE SA! THAT THE SLOWING DOWN IN THE GROWTH RATE OF PRIVATE CONSUMPTION EXPENDITURE, WHICH STARTED IN THE BEGINNING OF 1981, HAD CONTINUED INTO THIS YEAR, PROBABLY DUE TO POOR EXPORT PERFORMANCE AFFECTING INCOMES AND TO THE UNFAVOURABLE INFLUENCE ON WEALTH OF A DEPRESSED STOCK MARKET.
PUBLIC SECTOR DEMAND
PUBLIC SECTOR DEMAND ON BUILDING AND CONSTRUCTION OUTPUT IS FORECAST TO REMAIN STRONG AS A RESULT OF THE CONTINUATION OF THE PUBLIC WORKS PROGRAMME, THE HOUSING PROGRAMME AND THE CONSTRUCTION OF THE MTR ISLAND LINE.
AS SOME SLOWING DOWN IN PRIVATE SECTOR ACTIVITY IS EXPECTED, OVERALL EXPENDITURE ON BUILDING AND CONSTRUCTION IN REAL TERMS IS FORECAST TO GROW BY 13 PER CENT IN 1982, AGAINST THE BUDGET FORECAST OF 15 PER CENT.
PLANT AND MACHINERY
THE FORECAST GROWTH RATE OF OVERALL EXPENDITURE ON PLANT, MACHINERY AND EQUIPMENT IN REAL TERMS IS REVISED FROM 14 PER CENT TO MINUS 5 PER CENT.
+TAK ING GROSS DOMESTIC FIXED CAPITAL FORMATION AS A WHOLE, A SUBSTANTIAL DOWNWARD REVISION IS THUS MADE TO THE FORECAST GROWTH RATE IN REAL TERMS, FROM THE BUDGET FORECAST OF 16 PER CENT TO 3 PER CENT.
/GDP EXPENDITURE