XN000022-1987-11-25 — Page 20

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WEDNESDAY, NOVEMBER 25, 1987

RAPID ECONOMIC GROWTH CONTINUED IN THE THIRD QUARTER

WERE THE

BRANCH OF THE GOVERNMENT THE ECONOMIC SERVICES

SECRETARIAT TODAY (WEDNESDAY) RELEASED THE THIRD QUARTER ECONOMIC REPORT 1987. IN THE PROCESS OF PREPARING THIS REPORT, USEFUL COMMENTS AND ADVICE RECEIVED FROM THE ECONOMIC REVIEW COMMITTEE, WHICH IS CHAIRED FINANCIAL SECRETARY AND INCLUDES IN ITS MEMBERSHIP THE LEGISLATIVE COUNCIL.

BECAUSE THE THIRD QUARTER REPORT

EIGHT MEMBERS OF

COVERS THE PERIOD JULY ΤΟ STOCK MARKET AND

INDEX THE STOCK SEPTEMBER, THE UPHEAVALS IN THE

ARE NOT COVERED RY THE FUTURES MARKET, WHICH OCCURRED IN OCTOBER, REPORT.

THE HONG

DURING THE BUOYANT REMAINED

THIRD ECONOMY KONG

WITH THE RESULTING QUARTER OF 1987. THE UPSURGE IN EXPORTS, COUPLED STRONG DOMESTIC DEMAND, PROVIDED THE MAIN IMPETUS TO GROWTH.

BEEN BY SEPTEMBER, THE GROWTH MOMENTUM OF DOMESTIC EXPORTS HAD

1987. DOMESTIC IN THE THIRD QUARTER OF SUSTAINED FOR 19 MONTHS.

QUARTER EXPORTS GREW BY ABOUT 25 PER CENT IN REAL TERMS OVER THE SAME

LARGE LAST YEAR. THE LATEST FIGURES ON THE

AND MANUFACTURERS AND ON RETAINED

EXPORTS SEMI-MANUFACTURES SUGGEST THAT THE IS LIKELY TO REMAIN SATISFACTORY FOR THE REST OF THE YEAR.

IMPORTS

ORDER-BOOK POSITIONS

OF RAW PERFORMANCE OF

OF MATERIALS DOMESTIC

PRIVATE CONSUMPTION REFLECTING

AS REGARDS DOMESTIC DEMAND, THE GROWTH IN EXPENDITURE REMAINED STRONG IN THE THIRD QUARTER OF THE SUSTAINED IMPROVEMENT IN PERSONAL INCOMES.

INDICATIVE OF THIS,

1987,

OF IMPORT3 RETAINED

FOODSTUFFS AND OF REAL TERMS IN THE CONSUMER GOODS BOTH GREW BY ABOUT 10 PER CENT IN

OF RETAIL THIRD QUARTER OF 1987 COMPARED WITH A YEAR AGO. THE VOLUME SALES ALSO RECORDED A SIGNIFICANT INCREASE OVER THE SAME PERIOD.

A

BY INDICATED

IN RETAINED

AS SUBSTANTIALLY + CAPITAL INVESTMENT GREW YEAR-ON-YEAR INCREASE OF ABOUT 49 PER CENT IN REAL TERMS IMPORTS OF CAPITAL GOODS IN THE THIRD QUARTER. AMONG IMPORTS OF INDUSTRIAL MACHINERY FOR USE IN GREW BY ABOUT 30 PER CENT IN REAL TERMS.

AGAINST THE BACKGROUND

OF

BUOYANT

THESE. RETAINED THE MANUFACTURING SECTOR

ECONOMIC

THE

ACTIVITIES,

THIS PRODUCED LABOUR MARKET REMAINED TIGHT DURING THE THIRD QUARTER.

AND SALARIES. THE SEASONALLY SIGNIFICANT UPWARD PRESSURES ON WAGES ADJUSTED UNEMPLOYMENT RATE IN THE THIRD QUARTER OF 1987, CENT, WAS THE SAME AS IN THE PREVIOUS QUARTER, BUT WAS ONE POINT LOWER THAN A YEAR AGO.

AT 1.8 PER PERCENTAGE

THE UNDEREMPLOYMENT RATE WAS ONE PER CENT IN THE THIRD QUARTER. AND 0.3 0.1 OF A PERCENTAGE POINT LOWER THAN IN THE PREVIOUS QUARTER OF A PERCENTAGE POINT LOWER THAN IN THE SAME QUARTER LAST YEAR.

/THE RATE

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