MONDAY, ECVZEER 18, 1985
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ABOUT 1 000 FIRMS FROM VARIOUS INDUSTRIES AND BUSINESSES, FORMING A CROSS-SECTION OF THE ECONOMIC COMMUNITY, PARTICIPATED IN THE SURVEY AND WERE ASKED ABOUT THEIR BUSINESS EXPERIENCE AND EXPECTATIONS.
WITHIN THE MANUFACTURING SECTOR, FIRMS IN THE FOOD, BEVERAGE AND TOBACCO, TEXTILES, PRINTING, PLASTICS AND WATCHES AND CLOCKS INDUSTRIES REPORTED IMPROVEMENTS IN THE BUSINESS SITUATION IN THE THIRD QUARTER OVER THE SECOND QUARTER. AS FOR THE OTHER INDUSTRIES, THE BUSINESS EXPERIENCED BY FIRMS IN THE THIRD QUARTER WAS LARGELY SIMILAR TO THAT IN THE SECOND QUARTER.
FIRMS IN THE WEARING APPAREL, TEXTILES AND WATCHES AND CLOCKS INDUSTRIES ARE OPTIMISTIC ABOUT THE BUSINESS SITUATION IN THE FOURTH QUARTER AND SOME IMPROVEMENT IN BUSINESS IS EXPECTED.
IN CONTRAST, FIRMS IN THE PLASTICS, FABRICATED METAL PRODUCTS AND ELECTRONICS INDUSTRIES ARE FAIRLY PESSIMISTIC ABOUT IMMEDIATE BUSINESS PROSPECTS, THEY EXPECT A DETERIORATION IN BUSINESS IN THE FOURTH QUARTER.
FIRMS IN THE CONSTRUCTION SECTOR EXPERIENCED A CONTINUED UPTURN IN BUSINESS IN THE THIRD QUARTER AND FURTHER ADVANCEMENT IN BUSINESS IS PREDICTED FOR THE FOURTH QUARTER.
FIRMS IN THE WHOLESALE, RETAIL AND IMPORT-EXPORT TRADES IN GENERAL EXPERIENCED AN IMPROVEMENT IN BUSINESS IN THE THIRD QUARTER AND A FAVOURABLE BUSINESS SITUATION FOR THE FOURTH QUARTER IS EXPECTED.
AS FOR RESTAURANTS, RESPONDING FIRMS REPORTED SOME IMPROVEMENT IN BUSINESS IN THE THIRD QUARTER AND A MAJORITY OF THEM IS LOOKING FORWARD TO FURTHER ADVANCE IN BUSINESS IN THE FOURTH QUARTER DUE MAINLY TO SEASONAL EFFECTS.
A FALL IN BUSINESS WAS EXPERIENCED BY FIRMS IN THE HOTELS BUSINESS IN THE THIRD QUARTER FOR SEASONAL REASONS AND AN IMPROVEMENT IN BUSINESS IS EXPECTED IN THE FOURTH QUARTER.
WITH REGARD TO OTHER SERVICES SECTOR, FIRMS IN TRANSPORT, STORAGE AND COMMUNICATION AND REAL ESTATE DEVELOPMENT AND RELATED SERVICES EXPERIENCED AN IMPROVED BUSINESS SITUATION IN THE THIRD QUARTER WHILE THE BUSINESS LEVEL FOR BANKS IN THE THIRD QUARTER WAS SIMILAR TO THAT IN THE SECOND QUARTER.
FIRMS ACROSS ALL BUSINESSES IN THE OTHER SERVICES SECTOR ARE OPTIMISTIC ABOUT PROSPECTS FOR THE FOURTH QUARTER.
THE SURVEY ALSO COVERED BUSINESS PROBLEMS FACED BY FIRMS.
INSUFFICIENT BUSINESS CONTRACTS, PRICE COMPETITION BOTH FROM FIRMS IN HONG KONG AND FROM OVERSEAS CONTINUED TO BE THE MAJOR PROBLEMS FOR THE MANUFACTURING AND CONSTRUCTION SECTORS IN THE THIRD QUARTER. THIS IS PARTICULARLY THE CASE FOR ELECTRONICS, FABRICATED METAL PRODUCTS AND PLASTICS INDUSTRIES. THESE PROBLEMS ARE EXPECTED TO REMAIN IN THE FOURTH QUARTER.
/PRICE COMPETITION
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