XN000022-1981-07-17 — Page 5

FRIDAY, JULY 17, 1981

NOMINAL INDEX

INCLUDING FRINGE BENEFITS

% CHANGE MAR. 81 OVER

INDUSTRY

MAR. 80 SEPT 80 MAR 81

SEPT 80 MAR 80

MANUFACTURING

202

214

231

+ 7.9

TEXTILES

205

217

233

+ 7.4

+14.4

+13.7

ELECTRICAL

211

225

229

+1.8

+ 8.5

APPLIANCES

ELECTRONICS

218

226

263

+16.4

+20.6

GARMENTS

193

208

221

+ 6.3

+14.5

GLOVES

175

188

188

+ 7.4

HANDBAGS

209

208

220

+ 5.8

+ 5.3

PLASTIC PRODUCTS

228

231

249

+ 7.8

+ 9.2

OTHER THAN FLOWERS

AND TOYS

PLASTIC TOYS

PRINTING

197

200

216

+ 8.0

+ 9.6

226

264

271

+ 2.7

+19.9

THE DEPARTMENT ALSO PUBLISHED INDEXES OF REAL (THAT IS, AFTER DISCOUNTING THE EFFECT OF INFLATION) AVERAGE DAILY WAGES FOR MANUFACTURING WORKERS.

EXCLUDING FRINGE BENEFITS, THE INDEX IN MARCH 1981 WAS 131, REPRESENTING AN INCREASE OF 1 POINT OR 0.8 PER CENT OVER MARCH 1980 AND 1 POINT OR 0.8 PER CENT OVER SEPTEMBER 1980,

INCLUDING FRINGE BENEFITS, THE INDEX IN MARCH 1981 WAS 135, REPRESENTING ALSO AN INCREASE OF 1 POINT OR 0.7 PER CENT OVER MARCH 1980 AND 2 POINTS OR 1.5 PER CENT OVER SEPTEMBER 1980.

COMMENTING ON THE FIGURES, A SPOKESMAN FROM THE ECONOMIC SERVICES BRANCH OF THE GOVERNMENT SECRETARIAT SAID THAT THE LACK OF INCREASE IN MANUFACTURING WAGE RATES IN REAL TERMS WAS THE RESULT OF THE GROWTH RATE OF SUPPLY OF LABOUR CONTINUING TO BE RAPID, A DIRECT AND INDIRECT EFFECT OF RECENT IMMIGRATION.

AT THE SAME TIME, THE GROWTH RATE OF DEMAND FOR LABOUR IN THE MANUFACTURING SECTOR WAS SLOWING DOWN IN RESPONSE TO UNFAVOURABLE ECONOMIC CONDITIONS IN HK'S MAJOR MARKETS.

/THE INDEX