MONDAY, FEBRUALI 20, 1954
3
FOR THE 'MANUFACTURING' SECTOR, THE INTENSITY OF THE PROBLEMS OF UNCERTAINTIES DUE TO EXCHANGE RATE FLUCTUATIONS AND HIGH INTEREST RATES DECLINED CONSIDERABLY IN THE FOURTH QUARTER AND ARE EXPECTED TO EASE OFF FURTHER IN THE FIRST QUARTER OF 1984. HOWEVER, HIGH MATERIAL PRICES REMAINED A PROMINENT PROBLEM WITH LITTLE PROSPECT OF IMPROVEMENT IN THE NEXT QUARTER.
AS REGARDS THE CONSTRUCTION AND NON-MANUFACTURING SECTORS, THE PROBLEM OF UNCERTAINTIES DUE TO EXCHANGE RATE FLUCTUATIONS EASED OFF IN THE FOURTH QUARTER. HOWEVER, CONSTRUCTION FIRMS STILL CONSIDER PRICE COMPETITION FROM FIRMS IN HONG KONG AND INSUFFICIENT BUSINESS CONTRACTS AS THE MAJOR PROBLEMS FOR THE FOURTH QUARTER OF 1983 AND FIRST QUARTER OF 1984.
RESPONDENTS IN BOTH RESTAURANTS' AND 'WHOLESALE AND RETAIL TRADE' CONTINUED TO INDICATE PRICE COMPETITION AS THE MOST SIGNIFICANT PROBLEM IN THE FOURTH QUARTER AND EXPECT THIS TO PERSIST IN THE FIRST QUARTER. ALTHOUGH PARTICIPATING FIRMS IN THE HOTELS' BUSINESS STILL REGARD PRICE COMPETITION AS THE MAJOR PROBLEM FOR BOTH THE FOURTH AND FIRST QUARTERS, THE STRAIN OF THIS PROBLEM EASED IN THE FOURTH QUARTER AS COMPARED WITH THE SITUATION OF THE PREVIOUS SURVEY.
THE CENSUS AND STATISTICS DEPARTMENT SAID THAT THE SURVEY RESULTS, OBTAINED WITH A MINIMUM TIME LAG, WERE BASICALLY INTENDED TO PROVIDE ONE SOURCE OF REFERENCE FOR MAKING A QUICK ASSESSMENT OF THE CURRENT ECONOMIC SITUATION OF HONG KONG.
PARTICIPATING FIRMS WERE ASKED TO INDICATE WHETHER, IN THEIR OPINIONS, THE GENERAL BUSINESS SITUATION AND LEVEL OF CAPACITY UTILISATION HAD IMPROVED, REMAINED THE SAME OR DETERIORATED' IN THE IMMEDIATE PAST QUARTER, AS COMPARED WITH THE QUARTER BEFORE. THEY WERE ALSO ASKED TO INDICATE WHETHER THE SITUATION WILL'IMPROVE', 'REMAIN THE SAME' OR 'DETERIORATE IN THE FORTHCOMING QUARTER. THE BALANCE OF OPINIONS OF RESPONDENTS WAS TABULATED AND ANALYSED.
THE SURVEY REPORT ALSO CONTAINS A SECTION ON BUSINESS PROBLEMS EXPERIENCED AND EXPECTED BY FIRMS IN DIFFERENT ECONOMIC SECTORS AND A BREAKDOWN OF VIEWS OF FIRMS BY SIZE GROUPS.
THE DEPARTMENT CAUTIONED THAT FOR A SURVEY OF THIS NATURE, THE RESULTS SHOULD BE INTERPRETED WITH CARE AS IT WAS DIFFICULT TO ESTABLISH PRECISELY THE EXTENT TO WHICH RESPONDENTS' PERCEPTION OF THE PAST AND THE FUTURE ACCORDS WITH THE UNDERLYING TRENDS.
J
COPIES OF THE REPORT, CONTAINING AN ANALYSIS OF THE SURVEY FINDINGS AND STATISTICAL TABLES, HAVE BEEN DISTRIBUTED TO FIRVS TAKING PART IN THE SURVEY AND TO OTHER BUSINESS ORGANISATIONS, MEMBERS OF THE PUBLIC MAY OBTAIN COPIES FROM THE GOVERNMENT PUBLICATIONS SALE CENTRE, GENERAL POST OFFICE BUILDING, AT $3 PER COPY.
FURTHER DETAILS ON THE QUARTERLY BUSINESS SURVEY MAY EE OBTAINED FROM THE NATIONAL INCOME BRANCH OF THE CENSUS AND STATISTICS DEPARTMENT AT 5-423401.
0