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MONDAY, NOVEMBER 18, 1985
PRICE COMPETITION WAS GENERALLY CONSIDERED AS A PROMINENT PROBLEM IN THE THIRD QUARTER BY FIRMS IN THE WHOLESALE, RETAIL AND IMPORT-EXPORT TRADES, RESTAURANTS AND HOTELS SECTOR, THIS IS EXPECTED TO REMAIN SO IN THE FOURTH QUARTER.
INSUFFICIENT BUSINESS REMAINED THE MAJOR PROBLEM FOR RESTAURANTS IN THE THIRD QUARTER BUT ITS INTENSITY IS EXPECTED TO EASE IN THE FOURTH QUARTER. HIGH STAFF TURNOVER WAS ONCE AGAIN CITED AS A MAJOR PROBLEM IN THE THIRD QUARTER AND IS EXPECTED TO CONTINUE SO IN THE FOURTH QUARTER THOUGH ITS INTENSITY HAD SHOWN SOME TENDENCY TO LEVEL OFF IN THE SECOND QUARTER.
INSUFFICIENT BUSINESS WAS QUOTED AS A MAJOR PROBLEM BY HOTELS IN THE THIRD QUARTER DUE TO SEASONAL EFFECTS BUT THE PROBLEM IS EXPECTED TO SUBSIDE IN THE FOURTH 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 MAKING A QUICK ASSESSMENT OF THE CURRENT ECONOMIC SITUATION OF HONG KONG.
IN THE SURVEY, PARTICIPATING FIRMS WERE ASKED TO INDICATE WHETHER, IN THEIR OPINION, THE GENERAL BUSINESS SITUATION AND LEVEL OF CAPACITY UTILISATION HAD IMPROVED, REMAINED THE SAME OR DETERIORATED IN THE QUARTER JUST ENDED AS COMPARED WITH THE PRECEDING QUARTER.
FOR THE FORTHCOMING QUARTER, THEY WERE ALSO ASKED TO INDICATE WHETHER THE SITUATION WILL IMPROVE, REMAIN THE SAME OR DETERIORATE.
THE BALANCE OF OPINIONS OF RESPONDENTS WERE 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 IN 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.
COPIES OF THE REPORT, CONTAINING AN ANALYSIS OF THE SURVEY FINDINGS AND STATISTICAL TABLES, HAVE BEEN DISTRIBUTED TO FIRMS TAKING PART IN THE SURVEY AND TO OTHER BUSINESS ORGANISATIONS. MEMBERS OF THE PUBLIC MAY OBTAIN COPIES FROM THE GOVERNMENT PUBLICATIONS SALES CENTRE, GENERAL POST OFFICE BUILDING, AT $3 PER COPY.
FURTHER DETAILS ON THE QUARTERLY BUSINESS SURVEY MAY BE OBTAINED FROM THE NATIONAL INCOME BRANCH OF THE CENSUS AND STATISTICS DEPARTMENT AT 5-423401.
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