FRIDAY, AUGUST 26, 1994
MORE GENERALLY, AMIDST TIGHTER MARKET CONDITIONS, WORLD
AND COMMODITY
PRODUCT PRICES CAN BE EXPECTED TO RISE FURTHER. EFFECT OF THE SHARP APPRECIATION OF THE JAPANESE YEN ON THE PRICES HONG KONG'S IMPORTS FROM JAPAN WILL CONTINUE TO FILTER THROUGH.
THE PERSISTENTLY HIGH INFLATION IN CHINA COULD ALSO HAVE INDIRECT IMPACT VIA THE PRICES OF HONG KONG'S IMPORTS FROM CHINA.
LOCALLY,
THE
OF
AN
MORE INFLATIONARY PRESSURES WILL CONTINUE TO BE FELT STRONGLY IN HOUSING RENTALS, TRANSPORT FARES AND CHARGES FOR THE VARIOUS CONSUMER SERVICES.
HAVING REGARD TO BOTH THE EXTERNAL AND THE DOMESTIC FACTORS, HALF CONSUMER PRICE INFLATION IS ENVISAGED TO BE HIGHER IN THE SECOND
YEAR
AS OF THE
THAN IN THE FIRST HALF. BUT AVERAGING FOR 1994
A THE EARLIER FORECAST OF 8.5% FOR THE CPI(A) SHOULD WHOLE,
STILL BE
APPROPRIATE.
THE
GOVERNMENT COPY.
HALF-YEARLY BCONOMIC REPORT 1994 IS NOW ON SALE AT THE PUBLICATIONS CENTRE IN CONNAUGHT PLACE, CENTRAL, AT $50
THE UPDATED FORECASTS ARK SUMMARISED IN THE FOLLOWING TABLE:.
A
GROWTH RATE IN REAL TERMS OF
PRIVATE CONSUMPTION EXPENDITURE GOVERNMENT CONSUMPTION EXPENDITURE
GROSS DOMESTIC FIXED CAPITAL FORMATION TRANSFER COSTS OF LAND AND BUILDINGS BUILDING AND CONSTRUCTION
PRIVATE SECTOR
PUBLIC SECTOR
REAL ESTATE DEVELOPERS' MARGIN
MACHINERY AND EQUIPMENT
PRIVATE SECTOR
PUBLIC SECTOR
TOTAL EXPORTS OF GOODS
DOMESTIC EXPORTS
RE-EXPORTS
IMPORTS OF GOODS
EXPORTS OF SERVICES
IMPORTS OF SERVICES
GROSS DOMESTIC PRODUCT (GDP) PER CAPITA GDP
GROWTH RATE IN MONRY TERMS OF :
GDP
. PER CAPITA GDP
UPDATED FORECAST
RELEASED ON 26.8.1994
(%)
7
4.4
7.8
0
15.2
5
30
5.8
5
35
11
-4
15
12.5
9
8
5.7
14.1 12.3
/RATE OF