XN000022-1978-02-16 — Page 3

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THURSDAY, FEBRUARY 16, 1978

REPORT ON FOURTH QUARTERLY BUSINESS SURVEY

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THE CENSUS AND STATISTICS DEPARTMENT HAS COMPILED A REPORT ON A QUARTERLY BUSINESS SURVEY HELD IN JANUARY THIS YEAR THE FOURTH OF A SERIES OF QUARTERLY SURVEYS.

IN THE SURVEY ABOUT 700 FIRMS FROM VARIOUS INDUSTRIES FORMING A CROSS-SECTION OF THE ECONOMIC COMMUNITY, WERE ASKED ABOUT THE IR BUSINESS EXPERIENCE IN THE FOURTH QUARTER LAST YEAR, AND THEIR BUSINESS EXPECTATIONS FOR THE FIRST QUARTER THIS YEAR.

IT IS BELIEVED THAT SEASON AFFECTS THE SURVEY RESULTS CONSIDERABLY AND HONG KONG BUSINESSMEN ARE LESS OPTIMISTIC ABOUT THE FIRST QUARTER THIS YEAR THAN ABOUT THE FOURTH QUARTER LAST YEAR.

IN THE TEXTILE AND WEARING APPAREL SECTORS, OPINIONS VARY WIDELY REFLECTING SUBSTANTIAL UNCERTAINTY. PLASTICS AND FOOD, BEVERAGE AND TOBACCO BOTH EXPECT AN UPTURN.

THE OTHER MANUFACTURING SECTORS, EXCEPT ELECTRONICS, LOOK FORWARD TO A STEADY ADVANCE.

CONSTRUCTION EXPECTS A CONTINUATION IN THE UPTURN IN BUSINESS AND THE SERVICES SECTOR PREDICTS MODERATE IMPROVEMENT.

WHOLESALE AND RETAIL TRADE, RESTAURANTS AND HOTELS EXPECT A

SEASONAL DOWNTREND AFTER A HIGH FOURTH QUARTER.

WITH REGARD TO BUSINESS PERFORMANCE IN THE FOURTH QUARTER LAST YEAR. THE SURVEY INDICATED THAT BUSINESS IMPROVED WHEN COMPARED WITH THE PREVIOUS QUARTER.

FOR WEARING APPAREL, OPINIONS VARIED,

OPINIONS VARIED, BUT BUSINESSMEN IN THE TEXTILE INDUSTRY SEEMED TO BE FAIRLY SATISFIED WITH THEIR FOURTH QUARTER PERFORMANCE.

FOOD, BEVERAGE AND TOBACCO AND PLASTICS BUSINESS REPORTED SOME DECLINE WHICH IS BELIEVED TO BE SEASONAL.

PRINTING AND WATCHES AND CLOCKS REPORTED GOOD PERFORMANCE WHILE THE REST OF THE MANUFACTURING SECTORS REPORTED MILD ADVANCES. CONSTRUCTION AND THE SERVICES SECTORS BOTH EXPERIENCED REMARKABLE

IMPROVEMENTS.

FOR WHOLESALE AND RETAIL TRADE, RESTAURANTS AND HOTELS WHICH ARE BELIEVED TO HAVE BEEN AT THEIR SEASONAL PEAKS, SIGNIFICANT ADVANCES OVER THE THIRD QUARTER WERE REPORTED.

A SPOKESMAN FOR THE CENSUS AND STATISTICS DEPARTMENT SAID THE DATA, OBTAINED WITH A MINIMUM TIME LAG, WERE BASICALLY INTENDED TO FACILITATE A QUICK ASSESSMENT OF THE CURRENT ECONOMIC SITUATION OF HONG KONG.

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