TUESDAY, AUGUST 26, 1986
NEVERTHELESS, THE GROWTH RATES OF HONG KONG DOLLAR DEPOSITS AND OF THE HONG KONG DOLLAR MONEY SUPPLY DURING THE FIRST HALF OF THIS YEAR WERE STILL LESS THAN THOSE FOR THE SAME PERIOD LAST YEAR.
ON THE LABOUR SECTOR, THE REPORT OBSERVES THAT TOTAL EMPLOYMENT SHOWED SOME INCREASE IN MARCH 1986 OVER MARCH 1985. OVER THIS PERIOD, EMPLOYMENT IN THE SERVICES SECTORS - PARTICULARLY IN THE FINANCE, INSURANCE, REAL ESTATE AND BUSINESS SERVICES SECTOR AND IN THE WHOLESALE, RETAIL, IMPORT-EXPORT TRADES - INCREASED, WHILE EMPLOYMENT IN MANUFACTURING, IN RESTAURANTS AND HOTELS, AND ON BUILDING AND CONSTRUCTION SITES DECLINED.
THE REPORT FURTHER SAYS THAT DURING THE 12 MONTHS ENDING MARCH 1986, EARNINGS IN THE MANUFACTURING AND THE SERVICES SECTORS, IN TERMS OF PAYROLL PER PERSON ENGAGED, INCREASED QUITE RAPIDLY BOTH IN MONEY TERMS AND IN REAL TERMS, REFLECTING THE FAVOURABLE EFFECT ON INCOMES OF THE IMPROVED ECONOMIC PERFORMANCE IN RECENT MONTHS, CONSTRUCTION WAGE RATES ALSO RECORDED SOME INCREASE IN REAL TERMS.
THE REPORT OBSERVES THAT AFTER A DECLINE OF 5 PER CENT IN 1985, THE QUANTITY INDEX OF MANUFACTURING OUTPUT INCREASED BY 7 PER CENT IN THE FIRST QUARTER OF 1986 COMPARED WITH A YEAR AGO. MANUFACTURING ACTIVITY CONTINUED TO EXPAND IN THE SECOND QUARTER, AS EVIDENCED BY THE FIGURES ON DOMESTIC EXPORTS, THE ORDER-BOOK POSITIONS OF A SELECTION OF LARGE MANUFACTURERS, RETAINED IMPORTS OF RAW MATERIALS AND SEMI-MANUFACTURES, AND THE QUANTITY OF ELECTRICITY CONSUMED BY THE INDUSTRIAL SECTOR.
ON THE PROPERTY SECTOR, THE REPORT NOTES THAT AFTER A STRONG RECOVERY IN 1985, THE PROPERTY MARKET SEEMS TO HAVE ENTERED A PERIOD OF CONSOLIDATION IN THE FIRST HALF OF 1986. PRICES AND RENTALS FOR MOST CLASSES OF RESIDENTIAL PROPERTY REMAINED STEADY, WITH SOME DECREASES RECORDED FOR LARGE UNITS.
THE DEMAND FOR BETTER-MANAGED ARCADE SHOPS HELD FIRM, WITH THE EARLIER OVER-SUPPLY SITUATION LARGELY BEING ABSORBED. THE MARKET IN OFFICE ACCOMMODATION REMAINED STRONG, PARTICULARLY FOR HIGH QUALITY OFFICES IN THE PRIME LOCATIONS.
THE DEMAND FOR INDUSTRIAL PROPERTY ALSO REMAINED FIRM, WITH PRICES AND RENTALS GENERALLY SHOWING SOME MILD INCREASES DURING THE FIRST HALF OF 1986.
AS REGARDS BUILDING INTENTIONS, PLANNED DEVELOPMENTS OF ALL MAJOR TYPES OF PROPERTY INCREASED IN THE FIRST HALF OF 1986 COMPARED WITH THE SAME PERIOD IN 1985.
/ON PRICES,
No comments yet.
Private notes are available after approval.