XN000022-1984-03-21 — Page 2

WEDNESDAY,

MARCH 21, 1984

JANUARY ORDERS-ON-HAND RISE

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THE AVERAGE VOLUME OF ORDERS-ON-HAND (IN TERMS OF MONTHS) IN THE MANUFACTURING SECTOR AS A WHOLE INCREASED FURTHER IN JANUARY ACCORDING TO FIGURES RELEASED TODAY BY THE CENSUS AND STATISTICS DEPARTMENT.

IN ITS MONTHLY SURVEY OF EMPLOYMENT, PAYROLL AND ORDERS-ON- HAND FOR JANUARY, THE DEPARTMENT ALSO REPORTED THAT THE PLASTIC PRODUCTS, FABRICATED METAL PRODUCTS, AND ELECTRICAL AND ELECTRONIC PRODUCTS INDUSTRIES RECORDED INCREASES IN THE VOLUME OF ORDERS AS COMPARED WITH THE PREVIOUS MONTH.

THE ORDERS POSITION OF THE WEARING APPAREL INDUSTRY REMAINED STRONG, ALTHOUGH A SLIGHT DECLINE WAS REPORTED.

THE LEVEL OF EMPLOYMENT IN MOST MANUFACTURING INDUSTRIES AT THE END OF JANUARY DECLINED SLIGHTLY AS COMPARED WITH THAT AT THE END OF THE PREVIOUS MONTH BECAUSE OF LABOUR TURNOVER OCCURRING WITH THE APPROACH OF THE CHINESE NEW YEAR. HOWEVER, EMPLOYMENT IN THE FOOD AND DRINKS, AND OTHERS+ CATEGORY OF INDUSTRIES REMAINED STALLE. EMPLOYMENT IN THE SERVICES SECTOR ALSO SHOWED NO CHANGE. IN THE CONSTRUCTION SECTOR, THE NUMBER OF EMPLOYEES CONTINUED TO FALL UN COMPLETION OF SOME PROJECTS.

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SUBSTANTIAL INCREASES IN BOTH PAYROLL AND PER CAPITA EARNINGS WERE REPORTED BY ALL THE MANUFACTURERS SURVEYED. THIS WAS DUE TO THE PAYMENT OF BONUSES AND DOUBLE PAY AT THE END OF THE LUNAR CALENDAR YEAR. PAYROLL AND PER CAPITA EARNINGS IN THE SERVICES AND CONSTRUCTION SECTORS ALSO INCREASED FOR THE SAME REASON. HOWEVER THE BANKING SECTOR RECORDED A DECLINE IN BOTH PAYROLL AND PER CAPĪT. EARNINGS BECAUSE MOST OF THE BANKS SURVEYED HAD DISTRIBUTED THEIR ANNUAL BONUS AND DOUBLE PAY IN DECEMBER.

THE PERCENTAGE CHANGES IN ORDERS-ON-HAND, EMPLOYMENT AND PER CAPITA EARNINGS FOR THE LAST THREE MONTHS ARE SHOWN IN THE ACCOMPANYING TABLES.

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THE DEPARTMENT POINTED OUT THAT THE SURVEY COVERED A PANEL OF THE 200 LARGEST MANUFACTURING COMPANIES AND THE 50 LARGEST COMPANIES IN THE CONSTRUCTION AND SELECTED SERVICES SECTORS CHOSEN BY REFERENCE TO THE IR EMPLOYMENT IN MARCH LAST YEAR. THE DEPARTMENT CAUTIONED THAT AS THE SAMPLE WAS NOT DRAWN ON A RANDOM BASIS, RESULTS ON MAGNITUDE OF CHANGE MIGHT NOT REFLECT THE EXPERIENCE OF THE ECONOMY AS A WHOLE, ALTHOUGH THEY SHOULD GIVE A USEFUL INDICATION OF THE DIRECTION OF CHANGE FOR A QUICK ASSESSMENT OF DEVELOPMENT IN THE ECONOMY IN THE SHORT TERM.

THE SURVEY REPORT FOR JANUARY WILL BE ON SALE SOON AT THE GOVERNMENT PUBLICATIONS CENTRE, GENERAL POST OFFICE, AT $1.5 PER COPY, ENQUIRIES ON THE SURVEY RESULTS MAY BE MADE TO THE INDUSTRI PRODUCTION STATISTICS SECTION OF THE CENSUS AND STATISTICS DEPARTMENT (AT 3-7212832).

/A. ORDERS-ON-HAND