FRIDAY, NOVEMBER 25, 1988
5
THIRD QUARTER ECONOMIC REPORT RELEASED
THIRD
IN
ECONOMY SHOWED THE HONG KONG
FURTHER GROWTH
THE IN
LINE WITH QUARTER OF 1988, IN
A HIGHER GROWTH RATE OF DOMESTIC EXPORTS THAN IN THE SECOND QUARTER, AND A CONTINUED RAPID INCREASE RE-EXPORTS.
RATE OF
THE LABOUR MARKET REMAINED TIGHT, WITH THE UNEMPLOYMENT RATE
THE CONCURRENTLY, STAYING AT A VERY LOW
INFLATION
ROSE FURTHER.
LEVEL.
THIRD
QUARTER SERVICES
THESE DEVELOPMENTS ARE DESCRIBED IN THE ECONOMIC REPORT 1988 RELEASED TODAY (FRIDAY) BY THE ECONOMIC BRANCH.
USEFUL IN THE PROCESS OF PREPARING THIS REPORT,
ECONOMIC REVIEW ADVICE WERE RECEIVED FROM THE CHAIRED BY THE FINANCIAL SECRETARY AND LEGISLATIVE COUNCIL IN ITS MEMBERSHIP.
HAS
COMMENTS AND COMMITTEE. WHICH IS OF THE MEMBERS
DOMESTIC EXPORTS GREW BY ABOUT 8 PER CENT IN REAL TERMS IN THIRD QUARTER OVER THE SAME QUARTER LAST YEAR.
THE
CENT THIS IS HIGHER THAN THE YEAR-ON-YEAR GROWTH RATE OF 6 PER
SECOND QUARTER, BUT RECORDED IN THE
REPRESENTS A SLOW-DOWN WHEN PER CENT IN THE COMPARED WITH THE CORRESPONDING GROWTH RATES OF 11 FIRST QUARTER AND 23 PER CENT FOR 1987 AS A WHOLE.
THE
OF
EXTERNAL
THE SLOW-DOWN IN THE GROWTH RATE OF OVERALL IMPORTS IN SOME
OVERSEAS MAJOR
MARKETS AND THE
ON THE EFFECT
IN COMPETITIVENESS OF HONG KONG'S PRODUCTS AS THE US DOLLAR FIRMED UP
PROBABLY AFFECTED HONG KONG'S THE EARLIER MONTHS OF THIS YEAR HAVE RECENT DOMESTIC EXPORT PERFORMANCE.
OF THE LARGE
CURRENT INFORMATION ON THE ORDER-BOOK POSITIONS MANUFACTURERS AND ON THE QUANTITY OF ELECTRICITY CONSUMED BY RATE OF DOMESTIC EXPORTS INDUSTRIAL USERS SUGGESTS THAT THE GROWTH WILL PROBABLY BE MODERATE IN THE FOURTH QUARTER.
TREND
IN
OF RECENT
RETAINED IMPORTS SEMI-MANUFACTURES SUGGESTS THAT THERE MAY BE
HOWEVER, MATERIALS AND INCREASE.
THE
HAW
AS REGARDS DOMESTIC DEMAND, INCREASED HOUSEHOLD INCOMES SUPPORTED A HIGH LEVEL OF LOCAL CONSUMPTION EXPENDITURE.
IN THE VOLUME OF RETAIL A SIGNIFICANT INCREASE
SALES WAS RECORDED IN THE "HIRD QUARTER OF 1988 OVER THE SAME QUARTER LAST YEAR.
GOODS WAS
UP TO THE THIRD QUARTER, INVESTMENT DEMAND REMAINED STRONG ALTHOUGH THE OVERALL GROWTH RATE OF EXPENDITURE ON CAPITAL NOT AS HIGH AS IN 1987.
/AS AN