FRIDAY, AUGUST 27, 1993
CONSUMER SPENDING SHOULD HAVE REGISTERED
A
FURTHER MARKED INCREASE IN THE SECOND QUARTER, AS REFLECTED BY THE SHARP RISE IN RETAINED IMPORTS OF CONSUMER GOODS, BY ABOUT 26% IN REAL TERMS IN THE SECOND QUARTER OF 1993 OVER A YEAR EARLIER.
THIS FOLLOWED A 12% INCREASE IN THE FIRST QUARTER. THE VOLUME OF RETAIL SALES ALSO RECORDED A SOLID GAIN, BY 11% IN APRIL AND MAY COMBINED AS COMPARED TO THE SAME MONTHS LAST YEAR.
ON INVESTMENT SPENDING, THERE WAS A FURTHER GROWTH IN RETAINED IMPORTS OF CAPITAL GOODS, BY ABOUT 5% IN REAL TERMS IN THE SECOND QUARTER OF 1993 OVER A YEAR EARLIER, FOLLOWING A 9% INCREASE IN THE FIRST QUARTER.
WITHIN THIS, RETAINED IMPORTS OF CONSTRUCTION MACHINERY RECORDED A PARTICULARLY STRONG UPSURGE DUE ΤΟ THE INFRASTRUCTURAL PROJECTS.
RETAINED IMPORTS OF TRANSPORT EQUIPMENT SHOWED A LESS RAPID INCREASE FOLLOWING THE SUBSTANTIAL RISE IN THE PRECEDING YEAR.
RETAINED IMPORTS OF INDUSTRIAL MACHINERY FELL, AFTER THE MARKED INCREASES IN 1992 AND IN THE FIRST QUARTER OF THIS YEAR.
THE LABOUR MARKET REMAINED BROADLY STABLE DURING THE FIRST HALF OF 1993.
SECOND
THE SEASONALLY ADJUSTED UNEMPLOYMENT RATE IN THE QUARTER, AT 2.2%, WAS 0.1 OF A PERCENTAGE POINT LOWER THAN IN BOTH THE PRECEDING QUARTER AND THE SAME QUARTER LAST YEAR.
THE UNDEREMPLOYMENT RATE, AT 2.0% IN THE SECOND QUARTER, WAS 0.2 OF A PERCENTAGE POINT LOWER THAN IN THE SAME QUARTER LAST YEAR, BUT 0.4 OF A PERCENTAGE POINT HIGHER THAN IN THE PRECEDING QUARTER.
LABOUR MARKET CONDITIONS WERE TIGHTER IN TRADING AND SERVICES THAN IN MANUFACTURING AND CONSTRUCTION.
REFLECTING THE ON-GOING TRANSFORMATION OF THE ECONOMY TOWARDS SERVICES, EMPLOYMENT AS WELL AS VACANCIES IN MOST OF THE MAJOR SERVICE SECTORS CONTINUED TO RISE, BUT THOSE IN THE MANUFACTURING SECTOR DECLINED FURTHER.
FOR ALL SECTORS TAKEN TOGETHER, AN INCREASE IN TOTAL EMPLOYMENT WAS NEVERTHELESS RECORDED.
AVERAGE EARNINGS AS WELL AS WAGE RATES IN ALL MAJOR SECTORS SHOWED FURTHER SIGNIFICANT INCREASES IN MONEY TERMS IN THE 12 MONTHS ENDING MARCH 1993.
WHEN EXPRESSED IN REAL TERMS, THERE WERE NOTABLE INCREASES MOST SECTORS.
IN
THE PROPERTY MARKET WAS GENERALLY BUOYANT. ON RESIDENTIAL FLATS, TRADING ACTIVITY PICKED UP MARKEDLY IN THE SECOND QUARTER THE FIRST QUARTER.
FROM
/FLAT PRICES