3
FRIDAY, AUGUST 9, 1991
"THE
ENTIRE STATISTICAL
SERIES
WILL
FACILITATE SYSTEMATIC ANALYSIS INTO THE STRUCTURE AND DEVELOPMENT OF THE HONG KONG ECONOMY, MR HO SAID.
SERIES IS SEASONAL THE FOURTH WHILE THE
A NOTABLE
OF THE QUARTERLY GDP FEATURE VARIATIONS, HE SAID. "GENERALLY SPEAKING, THE THIRD AND
QUARTERS, QUARTERS OF EACH YEAR ARE THE SEASONALLY HIGH FIRST AND THE SECOND QUARTERS ARE THE SEASONALLY LOW ONES."
RECENT PERIODS WERE MR HO SAID QUARTERLY GDP ESTIMATES FOR
IN ECONOMIC PARTICULARLY USEFUL
CHANGES FOR MONITORING SHORT-TERM PERFORMANCE.
LARGER FLUCTUATIONS "HOWEVER, THEY ARE SUBJECT TO RELATIVELY THAN ANNUAL GDP ESTIMATES. ALSO, BECAUSE OF THE MUCH SHORTER TIME LÀO USED FOR COMPILING FOR PRODUCING THE ESTIMATES, SOME OF THE DATA
THOSE USED FOR QUARTERLY ESTIMATES MAY BE LESS SOLIDLY BASED THAN COMPILING ANNUAL ESTIMATES.
*
MR
HO SAID
FOLLOWING
THE
FIRST
RELEASE TODAY,
QUARTERLY
GDP ESTIMATES WOULD IN FUTURE BE PUBLISHED QUARTERLY IN A SHORT REPORT ENTITLED 'QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT' WHICH WOULD BE AVAILABLE FOR SALE ABOUT FOUR MONTHS AFTER EACH REFERENCE QUARTER.
THE
THE
REPORT WILL BE FIRST
QUARTERLY REGULAR ISSUE OF THIS PUBLISHED IN EARLY NOVEMBER 1991 IN RESPECT OF GDP ESTIMATES FOR SECOND QUARTER OF 1991.
REVISED EXPENDITURE-BASED ANNUAL GDP ESTIMATES
ALSO
PUBLISHED TODAY BY THE CENSUS AND
STATISTICS DEPARTMENT
ARE REVISED EXPENDITURE-BASED ANNUAL GDP ESTIMATES FOR THE PERIOD 1966 TO 1990.
INCORPORATED
THE REVISED ESTIMATES FOR 1966 TO 1988 REFLECT THE RESULTS OF A THIS NON-ROUTINE NON-ROUTINE REVISION UNDERTAKEN BY THE DEPARTMENT. REVISION INTRODUCED SOME IMPROVED ESTIMATION METHODS AND THE NEW DATA AVAILABLE FROM THE 1989/90 HOUSEHOLD EXPENDITURE AND A NEW ANNUAL SURVEY OF RE-EXPORT TRADE.
SURVEY
PLACE OCCASIONALLY, BECOME AVAILABLE OR IMPROVED WITH INTERNATIONAL
NON-ROUTINE REVISION TO GDP SERIES TAKES WHEN IMPORTANT NEW SOURCES OF DATA ESTIMATION METHODS ARE ADOPTED. THIS IS IN LINE PRACTICE. THE LAST TIME THIS WAS DONE IN HONG KONG WAS IN 1987.
GDP ESTIMATES, THE
FOR THE 1989 AND 1990 EXPENDITURE-BASED REVISED ESTIMATES REFLECT NOT ONLY THE EFFECTS OF REVISION, BUT ALSO
ROUTINE THAT OF THE
REGULAR DATA WERE INCORPORATED.
REVISION
THE NON-ROUTINE WHEREBY UPDATED
AS
IN
REVISED
GDP ESTIMATES SHOW THE REVISED (AUGUST 1991) EXPENDITURE-BASED THAT THE GROWTH RATE OF GDP IN REAL TERMS IN 1990 WAS 2.8 PER CENT, COMPARED WITH THE PRELIMINARY ESTIMATES OF 2.4 PER CENT PUBLISHED MARCH. THE GROWTH RATE OF GDP IN REAL TERMS IN 1989 HAS BEEN TO 2.7 PER CENT FROM 2.3 PER CENT,
/COMPARED WITH