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WEDNESDAY, AUGUST 15, 1990
ABOUT 1,000 FIRMS PROM VARIOUS INDUSTRIES AND TRADES, FORMING A CROSS-SECTION OF THE BUSINESS COMMUNITY, PARTICIPATED IN THE SURVEY. THEY WERE ASKED ABOUT THEIR BUSINESS EXPERIENCES AND EXPECTATIONS WELL AS THE BUSINESS PROBLEMS THEY FACED.
AS
FIRMS IN THE MANUFACTURING SECTOR ENCOUNTERED IN THE SECOND QUARTER PROBLEMS OF LABOUR SHORTAGE, PARTICULARLY SKILLED LABOUR, HIGH WAGE RATES, PRICE COMPETITION FROM FIRMS IN HONG KONG, AND INSUFFICIENT BUSINESS ORDERS OR CONTRACTS. THESE PROBLEMS EXPECTED TO CONTINUE IN THE THIRD QUARTER.
ARE
IN THE CONSTRUCTION SECTOR, FIRMS REPORTED PROBLEMS OF SHORTAGE OF LABOUR AND IN PARTICULAR, SKILLED LABOUR, PRICE COMPETITION FROM LOCAL FIRMS IN HONG KONG, AND HIGH WAGE RATES IN THE SECOND QUARTER. THIS SITUATION IS EXPECTED TO SUSTAIN IN THE THIRD QUARTER.
IN THE DISTRIBUTIVE AND CATERING TRADES SECTOR AND OTHER SERVICES SECTOR, A SIGNIFICANT PROPORTION OF FIRMS CITED STAFF SHORTAGE GENERALLY, HIGH STAFF TURNOVER, HIGH STAFF COSTS, AND PRICE COMPETITION AS THEIR MAJOR BUSINESS PROBLEMS IN THE SECOND QUARTER.
THE
IN ADDITION ΤΟ THESE PROBLEMS, HOTELS WERE PARTICULARLY AFFECTED BY THE PROBLEM OF INSUFFICIENT BUSINESS WHILE BANKS HAD PROBLEM OF SHORTAGE OF EXPERIENCED STAFF. THESE SITUATIONS ARE EXPECTED TO PERSIST IN THE THIRD QUARTER.
OF
ACCORDING TO THE CENSUS AND STATISTICS DEPARTMENT, RESULTS THE QUARTERLY BUSINESS SURVEY, OBTAINED WITH A MINIMUM TIME LAG, ARE INTENDED TO PROVIDE A SOURCE OF REFERENCE FOR MAKING A QUICK ASSESSMENT OF THE CURRENT ECONOMIC SITUATION OF HONG KONG.
IN THE SURVEY, PARTICIPATING FIRMS WERE ASKED ΤΟ INDICATE WHETHER, IN THEIR OPINION, THE GENERAL BUSINESS SITUATION AND LEVEL OF CAPACITY UTILISATION HAD "IMPROVED" "REMAINED THE SAME" OR "DETERIORATED" IN THE SECOND QUARTER OF 1990 AS COMPARED WITH THE PRECEDING QUARTER.
P
THEY WERE ALSO ASKED TO INDICATE WHETHER THE SITUATION IS EXPECTED TO "IMPROVE", "REMAIN THE SAME" OR "DETERIORATE" IN THE THIRD QUARTER OF 1990.
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 EMPLOYMENT SIZE
GROUP.
THE DEPARTMENT CAUTIONED THAT, IN A SURVEY OF THIS NATURE, THE RESULTS SHOULD
INTERPRETED WITH CAUTION AS IT IS DIFFICULT TO ESTABLISH PRECISELY THE EXTENT TO WHICH RESPONDENTS' RECOLLECTION THE PAST AND PERCEPTION OF THE FUTURE ACCORDS WITH THE UNDERLYING TRENDS.
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