6
FRIDAY, NOVEMBER 25, 1988
AS AN INDICATION, RETAINED IMPORTS OF
TERMS
CAPITAL
QUARTER
GOODS GREW BY THE OVER
SAME FIRST NINE MONTHS
RATE THE CORRESPONDING GROWTH
FOR
IN THIRD REAL ABOUT 15 PER CENT IN QUARTER LAST YEAR, OR BY ABOUT 14 PER CENT IN THE OF THIS YEAR OVER A YEAR EARLIER. 1987 AS A WHOLE WAS 26 PER CENT,
CAPITAL SUBSTITUTION
IN RESPONSE
то
THE
WIDESPREAD
LABOUR
SHORTAGES SHOULD HAVE ACCOUNTED FOR AT LEAST PART OF THIS INCREASE.
WITHIN
THIS
IMPORTS OF CATEGORY OF INVESTMENT, RETAINED
THE MANUFACTURING SECTOR SHOWED A INDUSTRIAL MACHINERY FOR USE IN
THIRD YEAR-ON-YEAR INCREASE OF ABOUT 16 PER CENT IN REAL TERMS IN THE FIRST NINE MONTHS OF THIS QUARTER, OR ABOUT 12 PER CENT IN THE THE CORRESPONDING GROWTH RATE IN 1987 WAS 18 PER CENT.
THE LABOUR
MARKET
HAS
YEAR.
THE DURING
THIRD RATE AT 1.6 PER THE CORRESPONDING
FURTHER TIGHTENED QUARTER, WITH THE SEASONALLY ADJUSTED UNEMPLOYMENT CENT AND THE UNDEREMPLOYMENT RATE AT 0.6 PER CENT. FIGURES IN THE SECOND QUARTER WERE 1.8 PER CENT AND 0.7 PER CENT.
THE DEMAND FOR LABOUR WAS PARTICULARLY STRONG IN AND CONSTRUCTION AND THE SERVICE SECTORS.
THE BUILDING
THE RATE OF INFLATION ROSE FURTHER DURING THE THIRD QUARTER.
PRICE INDEX WHILE IN THE FIRST PER CENT AND
THE YEAR-ON-YEAR RATE OF INCREASE IN THE CONSUMER (A) AVERAGED 8.1 PER CENT IN THE THIRD QUARTER, AND SECOND QUARTERS THE CORRESPONDING FIGURES WERE 6.8 7.0 PER CENT.
THE LIMITED SUPPLY OF THE STRONG PRESSURE OF DEMAND AGAINST
THE LAGGED EFFECT OF THE SURGE IN RESOURCES WITHIN THE ECONOMY,
LAST YEAR AND EARLIER WORLD COMMODITY PRICES IN THE LATTER PART OF
THE PRICES OF GOODS IMPORTED FROM THIS YEAR, AND THE INCREASE IN CHINA ALL CONTRIBUTED TO THE CURRENT RATE OF INFLATION.
SAME QUARTER IN CENT AND 9.2
COMPARING THE THIRD QUARTER OF 1988 WITH THE 1987, THE CPI(B) AND THE HANG SENG CP1 ROSE BY 7.9 PER PER CENT RESPECTIVELY.
THE ASSESSMENT THE THIRD QUARTER ECONOMIC REPORT 1988 UPDATES
GIVEN IN THE HALF-YEARLY OF THE LOCAL ECONOMIC SITUATION WHICH WAS ECONOMIC REPORT 1988.
CONTAINS APART FROM PROVIDING AN OVERALL VIEW, THE REPORT ALSO
THE FINANCIAL SECTOR, THE LABOUR CHAPTERS ON THE EXTERNAL SECTOR, SECTOR, ACTIVITY IN SELECTED SECTORS, AND PRICES.
ON THE EXTERNAL SECTOR, THE REPORT NOTES THAT DOMESTIC TO THE VARIOUS MAJOR MARKETS SHOWED A MIXED PERFORMANCE IN THE QUARTER.
EXPORTS THIRD
AND JAPAN GREW
22
DOMESTIC EXPORTS TO CHINA, THE UNITED KINGDOM SUBSTANTIALLY IN REAL TERMS, BY ABOUT 46 PER CENT, 22 PER CENT AND PER CENT RESPECTIVELY OVER A YEAR EARLIER.
/DOMESTIC EXPORTS