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MONDAY, NOVEMBER 14, 1988
IN ADDITION, HIGH LABOUR TURNOVER
AND HIGH MATERIAL PRICES WERE ALSO INDICATED BY PIRMS AS THE RELATIVELY MORE PROMINENT PROBLEMS IN BOTH THE THIRD AND FOURTH QUARTERS.
FOR THE CONSTRUCTION SECTOR, SHORTAGE OF LABOUR GENERALLY, SHORTAGE OF SKILLED LABOUR, HIGH WAGE RATES AND HIGH LABOUR TURNOVER WERE CITED BY A SIGNIFICANT PROPORTION OF FIRMS AS THE MAJOR PROBLEMS IN THE THIRD QUARTER AND THESE PROBLEMS ARE EXPECTED ΤΟ PERSIST IN THE FOURTH QUARTER.
AS FOR THE DISTRIBUTIVE AND CATERING TRADES AND OTHER SERVICES SECTORS, A GREATER PROBLEM OF SHORTAGE OF STAFF GENERALLY WAS INDICATED FOR BOTH THE THIRD AND FOURTH QUARTERS.
HIGH STAFF TURNOVER CONTINUED TO BE A MAJOR PROBLEM IN THE THIRD QUARTER ALTHOUGH THE PROBLEM IS EXPECTED TO BASE OFF SLIGHTLY IN THE FOURTHI QUARTER FOR FIRMS IN THE WHOLESALE, RETAIL AND IMPORT/EXPORT, HOTELS, TRANSPORT, STORAGE AND COMMUNICATION, AND
BANKS BUSINESSES.
IN ADDITION, THE HOTEL INDUSTRY SUFFERED FROM THE PROBLEM OF SHORTAGE OF QUALIFIED AND EXPERIENCED STAFF IN THE THIRD QUARTER AND THE SITUATION IS EXPECTED TO REMAIN IN THE FOURTH QUARTER.
THE SURVEY PROVIDE CURRENT
ACCORDING TO THE CENSUS AND STATISTICS DEPARTMENT, RESULTS, OBTAINED WITH A MINIMUM TIME LAG, ARE INTENDED TO ONE SOURCE OF REFERENCE FOR MAKING A QUICK ASSESSMENT OF THE ECONOMIC SITUATION OF HONG KONG.
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IN THE SURVEY, PARTICIPATING FIRMS WERE ASKED ΤΟ INDICATE WHETHER, IN THEIR OPINION, THE GENERAL BUSINESS SITUATION AND LEVEL CAPACITY UTILISATION HAD ' IMPROVED ' REMAINED THE SAME' OR 'DETERIORATED' IN THE THIRD QUARTER OF 1988 AS COMPARED WITH THE PRECEDING QUARTER.
OF
*
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THEY WERE ALSO ASKED ΤΟ INDICATE WHETHER THE SITUATION IS EXPECTED TO IMPROVE', REMAIN THE SAMB' OR 'DETERIORATE' IN THE FOURTH QUARTER OF 1988. THE OPINIONS OF RESPONDENTS WERE TABULATED AND ANALYSED.
MOREOVER, THE SURVEY REPORT CONTAINS A SECTION ON THE BUSINESS PROBLEMS EXPERIENCED AND EXPECTED BY FIRMS IN DIFFERENT ECONOMIC SECTORS AND A BREAKDOWN OF THE 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 1S DIFFICULT To ESTABLISH PRECISELY THE EXTENT TO WHICH RESPONDENTS' PERCEPTION OF THE PAST AND THE FUTURE ACCORDS WITH THE UNDERLYING TRENDS.
MEMBERS OF THE PUBLIC MAY OBTAIN COPLES FROM THE GOVERNMENT PUBLICATIONS CENTRE, GENERAL POST OFFICE BUILDING, AT $4.50 PER COPY. FURTHER DETAILS OF THE QUARTERLY BUSINESS SURVEY MAY BE OBTAINED FROM THE NATIONAL INCOME BRANCH OF THE CENSUS AND STATISTICS DEPARTMENT
AT
5-8234779.
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