25
WEDNESDAY, MAY 24, 1989
AND
LABOUR
WE SO THAT
HE NOTED.
"EVERY EFFORT MUST BE MADE TO EMPLOY TECHNIQUES AND TO STANDARDISE PRODUCTION S0 MAXIMUM RESULTS WITH A DIMINISHING WORK FORCE,
THAT HE ADDED
HARMONY
BLOCKS.
"
WHICH EMPLOY
BEEN HAVE COORDINATION,
MODULAR AND DIMENSIONAL HOUSING AUTHORITY TO ENABLE MORE OF THE FABRICATED OFF-SITE.
BUILDING
TIME-SAVING CAN ACHIEVE
A CONCEPT
BY THE DESIGNED
TO COMPONENTS
BE
OF
"WE ARE NOW WORKING WITH INDUSTRIALISTS IN REFINING THE OF THESE COMPONENTS WITH A VIEW TO PROMOTING FACTORY PRODUCTION, DAVID SAID.
DESIGN SIR
ECONOMIC SITUATION AND UPDATED FORECASTS OF GDP AND PRICES
THE
FIRST
RATES
THE HONG KONG ECONOMY WAS GENERALLY BUOYANT DURING QUARTER OF 1989, BUT THERE WAS SOME SLOWING DOWN IN THE GROWTH OF DOMESTIC EXPORTS AND, TO A LESSER EXTENT, RE-EXPORTS.
THE UNEMPLOYMENT RATE REMAINED AT AN HISTORIC LOW LEVEL. THE RATE OF INFLATION INCREASED FURTHER.
WHILE
REPORT ECONOMIC
1989 TODAY IN ISSUING
FIRST QUARTER THE (WEDNESDAY), THE GOVERNMENT ECONOMIST, DR ALAN MCLEAN, SAID THAT USING THE INFORMATION IN THE REPORT AND OTHER RECENT DATA A REVIEW HAD BEEN MADE OF THE FORECASTS OF THE GROSS DOMESTIC PRODUCT (GDP) AND OF PRICE TRENDS FOR 1989.
THE REVIEW CONCLUDED THAT ALTHOUGH ADJUSTMENTS WERE REQUIRED IN SOME OF THE COMPONENTS, THE FORECASTS OF THE RATES OF INCREASE OF THE GDP (AT 6 PER CENT), THE GDP DEFLATOR AT 9 PER CENT) AND THE CONSUMER PRICE INDEX (A) (AT 8.5 PER CENT) MADE AT THE TIME OF THE BUDGET could REMAIN UNCHANGED.
A NEW PROGRAMME HE ADDED THAT THIS REVIEW WAS THE FIRST IN
QUARTERLY UNDER WHICH THE SHORT-TERM GDP FORECAST WOULD BE UPDATED AT INTERVALS.
APPROACH IN THE FINANCIAL SECRETARY HAD REFERRED TO THIS NEW
THE RELEASE OF THE HIS CONCLUDING SPEECH ON THE BUDGET DEBATE.
PUBLICATION OF THE RESULTS OF EACH REVIEW WOULD COINCIDE WITH THE QUARTERLY ECONOMIC REPORTS.
YEAR.
THIS WAS
IN THE FIRST QUARTER OF 1989, DOMESTIC EXPORTS GREW BY ABOUT PER CENT IN REAL TERMS OVER THE SAME QUARTER LAST CONSIDERABLY SLOWER THAN THE CORRESPONDING GROWTH RATES OF 11 PER CENT IN THE PRECEDING QUARTER, AND OF 9 PER CENT FOR 1988 AS A WHOLE.
/DOMESTIC EXPORTS