12
FRIDAY, MAY 27, 1994
ON INFLATION, THE FORECAST RATES OF INCREASE IN BOTH THE CPI(A) AND THE GDP DEFLATOR ARE KEPT UNCHANGED FOR THE TIME BEING, AT & AND 8% RESPECTIVELY, NOTWITHSTANDING THE MODERATION IN THE FIRST QUARTER.
STABLE.
.5%
INFLATION
IN
LOOKING AHEAD, IMPORT PRICES ARE AXPECTED TO REMAIN LARGELY
NOTWITHSTANDING THE INFLATION SITUATION IN CHINA, THE PRICES OF IMPORTS FROM CHINA WILL PROBABLY REMAIN SOFT.
LOCALLY, THE RELATIVELY MORE ABUNDANT LABOUR SUPPLY, IF IT CAN BE SUSTAINED, SHOULD BE ABLE TO PROVIDE SOME RELIEF TO THE CURRENT CAPACITY CONSTRAINTS.
HOWEVER, INFLATIONARY PRESSURES NOTABLY ON THE HOUSING RENTALS, TRANSPORT AND CONSUMER SERVICES FRONTS ARE LIKELY TO REMAIN STRONG.
THE FIRST QUARTER ECONOMIC REPORT 1994 IS NOW ON SALE AT THE GOVERNMENT PUBLICATIONS CENTRE IN CONNAUGHT PLACE, CENTRAL, AT $44
A
COPY.
TABLE 1
FORECAST FOR 1994
AS RELEASED ON 2.3.1994
(%)
CURRENT UPDATE
RELEASED ON 27.5.1994
(%)
GROWTH RATE IN REAL TERMS OF:
PRIVATE CONSUMPTION EXPENDITURE
7
7
GOVERNMENT CONSUMPTION EXPENDITURË
3.5
•
GROSS DOMESTIC FIXED CAPITAL FORMATION TRANSFER COSTS OF LAND AND BUILDINGS BUILDING AND CONSTRUCTION
5.2
5.6
0
0
8.7
10.4
PRIVATE SECTOR
PUBLIC SECTOR
REAL ESTATE DEVELOPERS MARGIN
MACHINERY AND EQUIPMENT
-2
22
J
-2
NNN
-2
27
.5
-2
5.9
5.8
PRIVATE SECTOR
PUBLIC SECTOR
5
5
35
35
TOTAL EXPORTS OF GOODS
DOMESTIC EXPORTS
RE-EXPORTS
IMPORTS OF GOODS
16.5
12
-5
22
17
16.7
12.2
EXPORTS OF SERVICES
9
9
IMPORTS OF SERVICES
8
8
GROSS DOMESTIC PRODUCT (GDP)
5.5
5.
5
PER CAPITA GDF
3.8
3.8
GROWTH RATE