THURSDAY, AUGUST 23, 1984
FOR THE MANUFACTURING' SECTOR, THE INTENSITY OF THE PROBLEM OF HIGH MATERIALS PRICES FURTHER EASED OFF IN THE SECOND QUARTER BUT THE PROBLEM OF HIGH INTEREST RATES EMERGED.
AS FOR THE CONSTRUCTION' SECTOR, THE PERSISTENT PROBLEMS OF INSUFFICIENT BUSINESS CONTRACTS AND PRICE COMPETITION FROM FIRMS IN HONG KONG WERE INDICATED BY RESPONDENTS AS THE PROMINENT PROBLEMS FOR THE SECOND AND THIRD QUARTERS.
PRICE COMPETITION STILL REMAINED AS THE MAJOR PROBLEM FOR FIRMS IN THE WHOLESALE AND RETAIL TRADE BUSINESS IN THE SECOND QUARTER AND THIS PROBLEM IS EXPECTED TO PERSIST IN THE COMING QUARTER.
THE PROBLEM OF HIGH INTEREST RATES WAS REPORTED BY AN INCREASING PROPORTION OF FIRMS IN THE WHOLESALE AND RETAIL TRADE' BUSINESS, 'MANUFACTURING' AND 'CONSTRUCTION SECTORS IN THE SECOND QUARTER AND IS EXPECTED TO REMAIN AS A PROMINENT PROBLEM IN THE THIRD QUARTER.
INSUFFICIENT BUSINESS AND PRICE COMPETITION CONTINUED TO BE THE PREDOMINANT PROBLEMS CONFRONTING FIRMS IN THE 'RESTAURANTS" BUSINESS IN THE SECOND QUARTER WITH LITTLE PROSPECT OF EASING IN THE NEXT QUARTER. HOWEVER, THE INTENSITY OF THE PROBLEM OF HIGH STAFF TURNOVER EASED IN THE SECOND QUARTER.
AS REGARDS THE HOTELS' BUSINESS, PRICE COMPETITION WAS AGAIN REGARDED AS A SIGNIFICANT PROBLEM IN BOTH THE SECOND AND THIRD QUARTERS.
THE CENSUS AND STATISTICS DEPARTMENT CONDUCTED THE LATEST QUARTERLY BUSINESS SURVEY IN JULY 1984.
ABOUT 800 FIRMS FROM VARIOUS INDUSTRIES AND BUSINESSES, FORMING A CROSS-SECTION OF THE ECONOMIC COMMUNITY, WERE ASKED ABOUT THEIR BUSINESS EXPERIENCE IN THE SECOND QUARTER OF 1984, AND THEIR BUSINESS EXPECTATIONS FOR THE THIRD QUARTER OF 1984.
THE DEPARTMENT SAID THAT THE SURVEY RESULTS, OBTAINED WITH A MINIMUM TIME LAG, WERE BASICALLY INTENDED TO PROVIDE ONE SOURCE OF REFERENCE FOR MAKING A QUICK ASSESSMENT OF THE CURRENT ECONOMIC SITUATION OF HONG KONG.
PARTICIPATING FIRMS WERE ASKED TO INDICATE WHETHER, IN THEIR OPINIONS, THE GENERAL BUSINESS SITUATION AND LEVEL OF CAPACITY UTILISATION HAD IMPROVED', 'REMAINED THE SAME OR *DETERIORATED IN THE IMMEDIATELY PAST QUARTER AS COMPARED WITH THE QUARTER BEFORE.
FOR THE FORTHCOMING QUARTER, THEY WERE ALSO ASKED TO INDICATE WHETHER THE SITUATION WILL IMPROVE', 'REMAIN THE SAME OR DETERIORATE'.
/THE BALANCE ............
No comments yet.
Private notes are available after approval.