XN000022-1987-11-25 — Page 21

20

WEDNESDAY, NOVEMBER 25, 1987

EDGED INFLATION

THE

OF

UP FURTHER. THE RATE OF CONSUMER PRICE CONSUMER PRICE INDEX (A) ROSE BY 5.6 PER CENT IN THE THIRD QUARTER

WITH COMPARED

THE YEAR. THIS 1987 OVER THE SAME QUARTER LAST

AND 5.4 CORRESPONDING YEAR-ON-YEAR RATES OF INCREASE OF 4.3 PER CENT PER CENT IN THE FIRST AND SECOND QUARTERS OF 1987.

HONG KONG'S

NEVERTHELESS, IT WAS STILL MODERATE COMPARED WITH

WHEN THE AVERAGE ANNUAL RATE OF EXPERIENCE OVER THE PAST DECADE, INCREASE IN THE CPI(A) WAS 8.7 PER CENT.

THE CPI(B) AND THE HANG SENG CPI ROSE BY 5.5 PER CENT PER CENT RESPECTIVELY BETWEEN THE THIRD QUARTER OF 1986 AND QUARTER IN 1987.

AND

6. .5

THE SAME

THE ASSESSMENT IN THE HALF-YEARLY

VIEW, OVERALL

THE THIRD QUARTER ECONOMIC REPORT 1987 UPDATES OF THE LOCAL ECONOMIC SITUATION WHICH WAS GIVEN

PROVIDING AN

THE APART FROM ECONOMIC REPORT 1987.

SECTOR, THE REPORT ALSO CONTAINS INDIVIDUAL CHAPTERS ON THE EXTERNAL

ACTIVITY IN SELECTED SECTORS, FINANCIAL SECTOR, THE LABOUR SECTOR, AND PRICES.

ON THE EXTERNAL SECTOR, THE REPORT NOTES THAT DOMESTIC TO ALL MAJOR MARKETS GREW RAPIDLY IN THE THIRD QUARTER.

EXPORTS

26

PER CENT IN REAL DOMESTIC EXPORTS TO CHINA ROSE BY ABOUT 49

PER CENT FOR TERMS OVER A YEAR EARLIER, FOLLOWED BY INCREASES OF 45 JAPAN, OF 31 PER CENT FOR THE FEDERAL REPUBLIC OF GERMANY, AND OF

DOMESTIC EXPORTS ΤΟ HONG KONG'S PER CENT FOR THE UNITED KINGDOM.

CENT IN LARGEST MARKET, THE UNITED STATES, INCREASED BY ABOUT 15 PER REAL TERMS.

SUSTAINED DEMAND

FOR

HONG KONG'S

THE MAJOR ALTHOUGH THE

PRODUCTS IN OVERSEAS MARKETS WAS AN IMPORTANT CONTRIBUTORY FACTOR,

PROCESSING ACTIVITIES INCREASED TRADE FLOWS BROUGHT ABOUT BY OUTWARD IN CHINA ALSO ACCOUNTED FOR A SIGNIFICANT PART OF THE EXPORT GROWTH.

RE-EXPORTS CONTINUED TO

CHINA,

80

FEATURE PROMINENTLY IN HONG KONG'S OF 1987, RE-EXPORTS GREW BY EXTERNAL TRADE. IN THE THIRD QUARTER ABOUT 49 PER CENT IN REAL TERMS OVER THE SAME QUARTER IN 1986. IN ITS DUAL ROLE AS A SOURCE AND AS A MARKET, ACCOUNTED FOR NEARLY

IN THE THIRD QUARTER. COMPARED PER CENT OF HONG KONG'S RE-EXPORTS

KONG'S HONG

IMPORTS GREW

REAL WITH THE SAME QUARTER LAST YEAR,

19 PFR TERMS BY ABOUT 34 PER CENT, AND ITS RETAINED IMPORTS BY ABOUT CENT.

IN

RATE OF THE VALUE LF THE REPORT POINTS OUT THAT THE GROWTH

PLUS EXPORTS

RE-EXPORTS) BETWEEN THE TOTAL EXPORTS (1.E. DOMESTIC

PER CENT. THIRD QUARTER OF 1986 AND THE THIRD QUARTER OF 1987, AT 38 WAS THE SAME AS THAT OF THE VALUE OF IMPORTS.

SURPLUS EQUIVALENT TO SIN PER THE THIRD QUARTER OF AS THE SUEPLOS

AS A RESULT, A VISIBLE TRADE CENT OF THE VALUE OF IMPORTS, WAS RECORDED IN THIS YEAR, WHICH WAS THE SAME IN PROPORTIONATE TERMS RECORDED IN THE THIRD QUARTER LAST YEAR. THIS MAINLY SEASONAL.

SURPLUS NAS. HOWEVER,

/FOR THE