TUESDAY, MAY 24, 1983
THE GENERAL IMPRESSION IS THAT TEXTILES AND CLOTHING, AND THE UPPER END OF THE ELECTRONICS INDUSTRY ARE RECOVERING FIRST, FOLLOWED BY THE FOOD AND BEVERAGES, AND THE PRINTING INDUSTRY.
PLASTIC WARE, TOYS AND WATCHES ALSO REPORTED A MILD RECOVERY.
ON THE PROPERTY SECTOR, THE REPORT SAYS THAT THE VACANCY POSITION AT THE END OF 1982 FOR MOST TYPES OF PROPERTY, APART FROM RESIDENTIAL, WAS HIGH IN RELATION TO EXISTING STOCK.
HOWEVER, FOLLOWING THE SHARP FALL IN PROPERTY PRICES IN THE LAST YEAR OR SO, PRICES SEEM TO HAVE STABILIZED.
THERE ARE NOW SIGNS OF RENEWED INTEREST IN PROPERTY BUYING, ESPECIALLY OF SMALL RESIDENTIAL FLATS.
ON PRICES, THE REPORT COMMENTS THAT THE RATE OF PRICE INCREASE IN THE FIRST QUARTER WAS RELATIVELY STABLE BECAUSE THE DEMAND FOR DOMESTIC RESOURCES WAS NOT EXERTING MUCH PRESSURE ON THEIR SUPPLY, AND THE RATE OF INFLATION IN HONG KONG'S MAJOR TRADING PARTNERS WAS EASING.
IT POINTS OUT THAT, HAD THE HONG KONG DOLLAR NOT DEPRECIATED IN THE LAST MONTHS OF 1982 AND IN THE FIRST QUARTER OF 1983, THERE WOULD HAVE BEEN A EVEN MORE SIGNIFICANT SLOWING DOWN IN THE RATE OF INFLATION.
THE FIRST QUARTER ECONOMIC REPORT IS NOW ON SALE AT $7 A COPY.
TDC CHAIRMAN SEES END OF RECESSION
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+HONG KONG IS ONCE AGAIN LAST INTO THE WORLD RECESSION AND THE FIRST OUT OF IT, MISS LYDIA DUNN SAID TODAY.
THE CHAIRMAN OF THE TRADE DEVELOPMENT COUNCIL WAS COMMENTING ON THE TERRITORY'S LATEST TRADE FIGURES WHICH SHOW A 16 PER CENT RISE IN DOMESTIC EXPORTS IN APRIL THIS YEAR COMPARED WITH THE SAME MONTH LAST YEAR.
THE FIGURES HERALD GOOD NEWS FOR THE ECONOMY, MISS DUNN SAID, ADDING1 +HONG KONG HAS COME THROUGH THE RECESSION AND OUR EXPORTERS ARE READY TO TAKE FULL ADVANTAGE OF THE UPSWING IN THE WORLD ECONOMY.+
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