XN000022-1989-04-13 — Page 7

TOTAL

SELECTED MAJOR

SECTORS OF THE

ECONOMY

THURSDAY, APRIL 13, 1989

6

PAYROLL IN

% CHANGE*

QUARTERLY

4TH QTR.

1987

4TH QTR. 1988

HK$ MN

HK$ MN

4TH QTR. 1988

ON

4TH QTR. 1987

MANUFACTURING

9,284

10,456

+12.6

WHOLESALE AND

7,613

9,167

+20.4

RETAIL, IMPORT

AND EXPORT TRADES

AND RESTAURANTS

AND HOTELS

FINANCING,

4,335

5,239

+20.8

INSURANCE, REAL ESTATE

AND BUSINESS

SERVICES

BASED ON UNROUNDED PAYROLL FIGURES.

COMPARED WITH THE SAME QUARTER A YEAR AGO, PAYROLL OUTLAYS THE ABOVE THREE SECTORS INCREASED BY 12.6 PER CENT, 20.4 PER CENT 20.8 PER CENT RESPECTIVELY IN THE FOURTH QUARTER OF 1988.

AFTER ADJUSTMENT

IN

AND

FOR VARIATIONS IN TOTAL MONTHLY PAYROLL CHANGES IN OUTLAYS IN DECEMBER 1987 AND DECEMBER 1988, ARISING FROM THE LEVEL OF EMPLOYMENT, A NOMINAL INDEX OF PAYROLL PER PERSON ENGAGED IS OBTAINED.

TO ALLOW FOR THE EFFECTS OF PRICE CHANGES, THE NOMINAL INDEX IS OF BY DEFLATED

INDEX THE CONSUMER PRICE INDEX (A) TO GIVE THE REAL

AND PAYROLL PER PERSON ENGAGED. THESE TWO INDICES FOR DECEMBER 1987 DECEMBER 1988 ARE GIVEN IN THE TABLES BELOW :

NOMINAL INDEX OF PAYROLL PER PERSON ENGAGED

(JUNE 1980 = 100)

% CHANGE

SELECTED MAJOR SECTORS OF THE

DEC. 88

ECONOMY

DEC. 87

DEC. 88

ON DEC. 87

MANUFACTURING

263.4

307.4

+16.7

WHOLESALE

AND

288.5

318.4

+10.4

RETAIL, IMPORT

AND EXPORT TRADES

AND RESTAURANTS

AND HOTELS

/FINANCING, 327.7