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WEDNESDAY, MAY 25, 1988
COMPARING DECEMBER 1987 WITH DECEMBER 1986, EARNINGS IN THE MANUFACTURING SECTOR AND IN THE SERVICE SECTORS, IN TERMS OF PAYROLL PER PERSON ENGAGED, RECORDED SIGNIFICANT INCREASES IN MONEY TERMS BUT RELATIVELY SMALL GAINS IN REAL TERMS, LARGELY BECAUSE OF RIBING INFLATION.
IN THE BUILDING AND CONSTRUCTION SECTOR, THE INCREASE IN WAGE RATES REMAINED GENERALLY SUBSTANTIAL.
THE REPORT SHOWS THAT THE INDEX OF INDUSTRIAL PRODUCTION, AS AN INDICATOR OF LOCAL MANUFACTURING OUTPUT, INCREASED BY 9 PER CENT IN THE FOURTH QUARTER OF 1987 OVER A YEAR EARLIER,
THIS REPRESENTS A SIGNIFICANT SLOW-DOWN FROM THE CORRESPONDING GROWTH RATE OF 19 PER CENT FOR THE FIRST THREE QUARTERS OF 1987 COMBINED.
MANUFACTURING ACTIVITY HAS APPARENTLY CONTINUED TO SLOW DOWN IN THE FIRST QUARTER OF 1988, AS REFLECTED BY THE FIGURES ON DOMESTIC EXPORTS, ON RETAINED IMPORTS OF RAW MATERIAL AND SEMI-MANUFACTURES, ON THE QUANTITY OF ELECTRICITY CONSUMED BY INDUSTRY, AND ON THE ORDER- BOOK POSITIONS OF LARGE MANUFACTURERS.
THE PROPERTY MARKET REMAINED GENERALLY STABLE DURING THE FIRST QUARTER OF THIS YEAR, AFTER EXPERIENCING SOME CONSOLIDATION IN THE LATTER PART OF 1987.
HOWEVER, THERE WAS A PICK-UP IN ACTIVITY MORE RECENTLY. INCREASED HOUSEHOLD INCOMES AND RELATIVELY LOW MORTGAGE RATES CONTINUED TO SUPPORT THE DEMAND FOR SMALL AND MEDIUM-SIZED FLATS.
THE DEMAND FOR OFFICE AND SHOPPING SPACE IN PRIME LOCATIONS WAS STRONG, WHILE THERE WAS CONTINUED DEMAND FOR INDUSTRIAL PREMISES OF A GOOD QUALITY IN THE ESTABLISHED INDUSTRIAL AREAS.
PROPERTY PRICES, REMAINED GENERALLY STEADY DURING THE FIRST QUARTER, WHILE RENTALS FOR SOME TYPES OF PROPERTY, SUCH AS PREMISES, HAVE TENDED TO INCREASE.
COMMERCIAL
MEANWHILE PLANNED DEVELOPMENTS OF NEW PROPERTY,
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AS BY THE FIGURES ON BUILDING CONSENTS, REMAINED AT A HIGH LEVEL FIRST QUARTER.
INDICATED IN THE
THE FIRST QUARTER ECONOMIC REPORT 1988 IS NOW ON SALE GOVERNMENT PUBLICATIONS CENTRE IN CONNAUGHT PLACE, CENTRAL, AT COPY.
AT THE $18 A
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