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WEDNESDAY, MAY 23, 1984
SOME DETERIORATION IN BUSINESS WAS REPORTED BY RESPONDENTS IN THE 'TEXTILES'. 'PRINTING' AND 'WATCHES AND CLOCKS' INDUSTRIES FOR THE FIRST QUARTER. HOWEVER, THEY FORESEE AN UPTURN IN THE SECOND QUARTER.
'FOOD, BEVERAGE AND TOBACCO'. 'WEARING APPAREL' AND 'ELECTRONICS' FIRMS REPORTED STABLE BUSINESS+ AND EXPECT +A SIGNIFICANT IMPROVEMENT+ IN THE FOLLOWING QUARTER.
*TRANSPORTATION FIRMS EXPERIENCED FAIRLY STRONG RECOVERY IN THE FIRST QUARTER, CONTRARY TO THEIR EARLIER EXPECTATION OF AN UNCHANGED BUSINESS SITUATION.
FOR THE MANUFACTURING SECTOR, THE PROBLEM OF HIGH MATERIALS PRICES EASED IN THE FIRST QUARTER. HOWEVER, AN INCREASING PROPORTION OF FIRMS IN THE SECTOR REPORTED HIGH LABOUR TURNOVER AND SHORTAGE OF LABOUR GENERALLY AS PROBLEMS FOR THE FIRST AND SECOND QUARTERS.
INSUFFICIENT BUSINESS CONTRACTS AND PRICE COMPETITION FROM FIRMS IN HONG KONG WERE STILL THE MAIN PROBLEMS SEEN BY CONSTRUCTION FIRMS IN THE FIRST QUARTER, WITH LITTLE PROSPECT OF IMPROVEMENT IN THE FOLLOWING QUARTER. FIRMS IN THE 'WHOLESALE AND RETAIL TRADE', 'RESTAURANTS' AND 'HOTELS' BUSINESSES INDICATED THE PROBLEM OF PRICE COMPETITION AS THE IR MAJOR PROBLEM FOR THE FIRST TWO QUARTERS.
HOWEVER, IN ADDITION TO THE PROBLEM OF PRICE COMPETITION RESTAURANT BUSINESSES ALSO REPORTED THAT INSUFFICIENT BUSINESS AND HIGH STAFF TURNOVER HAD EMERGED AS MAJOR PROBLEMS IN THE FIRST QUARTER. THEY EXPECTED THESE PROBLEMS TO CONTINUE INTO THE SECOND QUARTER.
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 A QUICK ASSESSMENT+ OF THE CURRENT ECONOMIC SITUATION OF HONG KONG.
IMPROVED',
FIRMS WERE ASKED TO INDICATE WHETHER THEY FELT THE GENERAL BUSINESS SITUATION AND LEVEL OF CAPACITY UTILISATION HAD 'REMAINED THE SAME' OR 'DETERIORATED IN THE PAST QUARTER AS COMPARED WITH THE QUARTER BEFORE.
THEY WERE ALSO ASKED TO INDICATE, FOR THE FORTHCOMING QUARTER, WHETHER THE SITUATION WOULD IMPROVE', 'REMAIN THE SAME' OR 'DETERIORATE'.
THE BALANCE OF OPINIONS OF RESPONDENTS WERE TABULATED AND ANALYSED,
THE SURVEY