2
WEDNESDAY, FEBRUARY 13, 1991
REGARDING THE SHORT-TERM BUSINESS PROSPECTS, MOST FIRMS IN THIS ACTIVITY SECTOR, PARTICULARLY BANKS, EXPECT A LOWER LEVEL OF BUSINESS IN THE FIRST QUARTER OF 1991.
ABOUT 1,000 FIRMS FROM VARIOUS INDUSTRIES AND TRADES, FORMING A
SURVEY. CROSS-SECTION OF THE BUSINESS COMMUNITY, PARTICIPATED IN THE THEY WERE ASKED ABOUT THEIR BUSINESS EXPERIENCES AND EXPECTATIONS WELL AS THE BUSINESS PROBLEMS THEY FACED.
IN THE FOURTH QUARTER OF 1990, FIRMS SECTOR GENERALLY ENCOUNTERED THE PROBLEMS OF
PRICE COMPETITION; ORDERS OR CONTRACTS;
PARTICULARLY
PRICES.
1
AS
IN THE MANUFACTURING INSUFFICIENT BUSINESS OF SHORTAGE
LABOUR, AND HIGH MATERIAL
HIGH WAGE RATES; LABOUR; SKILLED
THE PROBLEM OF HIGH MATERIAL PRICES WAS PARTICULARLY WIDESPREAD PRODUCTS INDUSTRIES, FOR FIRMS IN THE PLASTICS AND FABRICATED METAL WHILE THE PROBLEM OF INSUFFICIENT BUSINESS ORDERS OR PARTICULARLY SERIOUS FOR FIRMS IN THE TEXTILES INDUSTRY.
1991.
CONTRACTS WAS
THESE PROBLEMS ARE EXPECTED TO REMAIN IN THE FIRST QUARTER
OF
OF PRICE IN THE CONSTRUCTION SECTOR, FIRMS HAD THE PROBLEMS
SHORTAGE KONG;
OF LABOUR, FROM
FIRMS IN HONG COMPETITION
LOCAL
WAGE HIGH LABOUR:
RATES; AND INSUFFICIENT SKILLED PARTICULARLY BUSINESS OR CONTRACTS IN THE FOURTH QUARTER OF 1990.
THESE PROBLEMS ARE EXPECTED TO SUSTAIN IN THE FIRST QUARTER
1991.
IN THE
OF
SECTOR TRADES
AND OTHER AND CATERING DISTRIBUTIVE
OF PROPORTION
FIRMS CITED PRICE SERVICES SECTOR, A SIGNIFICANT
HIGH STAFF COSTS AS COMPETITION; SHORTAGE OF STAFF GENERALLY; AND THEIR MAJOR BUSINESS PROBLEMS IN THE FOURTH QUARTER OF 1990.
HOTELS IN
TO THESE PROBLEMS, ADDITION PROBLEM OF INSUFFICIENT BUSINESS WHILE BANKS SHORTAGE OF EXPERIENCED STAFF.
OF 1991.
THE
ALSO ENCOUNTERED THE HAD THE PROBLEM OF
THESE SITUATIONS ARE EXPECTED TO PERSIST IN THE FIRST
QUARTER
OF
ARE
ACCORDING TO THE CENSUS AND STATISTICS DEPARTMENT, RESULTS QUARTERLY BUSINESS SURVEY, OBTAINED WITH A MINIMUM TIME LAG,
FOR
A MAKING REFERENCE
QUICK OF INTENDED
PROVIDE A TO
SOURCE
KONG FROM A ASSESSMENT OF THE CURRENT ECONOMIC SITUATION OF HONG SHORT-TERM PERSPECTIVE.
LEVEL SAME" OR WITH THE
ASKED TO INDICATE IN THE SURVEY. PARTICIPATING FIRMS WERE WHETHER, IN THEIR OPINION, THE GENERAL BUSINESS SITUATION AND
"REMAINED "IMPROVED", HAD UTILISATION OF CAPACITY "DETERIORATED' IN THE FOURTH QUARTER OF 1990 AS PRECEDING QUARTER.
++
THE
COMPARED
/THEY WERE