XN000022-1989-05-12 — Page 3

FRIDAY, MAY 12, 1989

INDUSTRIES AND

BUSINESSES,

ABOUT 1.000 FIRMS FROM VARIOUS FORMING A CROSS-SECTION OF THE BUSINESS COMMUNITY, PARTICIPATED IN THE SURVEY AND

AND WERE ASKED ABOUT THEIR BUSINESS EXPERIENCES

T11E

EXPECTATIONS.

FIRMS.

SURVEY ALSO COVERED BUSINESS

PROBLEMS

FACED BY

AS REGARDS THE PROBLEMS-FACED BY FIRMS IN THE MANUFACTURING SECTOR. THE PROBLEMS OF SHORTAGE OF LABOUR GENERALLY AND SHORTAGE

THE IN SKILLED LABOUR AFFECTED MOST OF THE RESPONDING FIRMS QUARTER.

1$

OF

FIRST

AFFECTING

EXPECTED

TO

IN ADDITION, 111GH LABOUR TURNOVER WAS ALSO A PROBLEM SOMB

TRE OF

INDUSTRIES SURVEYED,

SITUATION CONTINUE IN THE SECOND QUARTER.

SHORTAGE

THIS

LABOUR WERE QUARTER.

IN THE CONSTRUCTION SECTOR. THE PROBLEMS OF SHORTAGE OF GENERALLY.

OF

LABOUR AND HIGH SKILLED

WAGE RATES

REPORTED BY THE

FIRST MAJORITY OF FIRMS SURVEYED IN THE THESE PROBLEMS ARE EXPECTED TO REMAIN IN THE SECOND QUARTER.

SECTOR AS

OF

THE FIRST

MANY FIRMS IN THE DISTRIBUTIVE AND CATERING TRADES WELL AS THE "OTHER SERVICES" SECTOR WERE AFFECTED BY THE PROBLEMS

IN STAFF GENERALLY AND HIGH STAFF TURNOVER SHORTAGE OF QUARTER.

WITH

IN

ADDITION,

TNE SHORTAGE

MANY FIRMS IN THE HOTEL INDUSTRY OF EXPERIENCED STAFF, WHILE

WERE

MANY

CONCERNED

BANKS WERE

CONCERNED WITH HIGH STAFF COSTS. THESE PROBLEMS ARE EXPECTED TO REMAIN IN THE SECOND QUARTER.

RESULTS,

SURVEY ACCORDING TO THE CENSUS AND STATISTICS DEPARTMENT,

OBTAINED WITH A MINIMUM TIME LAG, ARE INTENDED TO PROVIDE

REFERENCE FOR SOURCE OF

MAKING A QUICK ASSESSMENT OF THE CURRENT ECONOMIC SITUATION OF HONG KONG.

THE

A

IN THE SURVEY. PARTICIPATING FIRMS WERE ASKED TO INDICATE WHETHER, IN THEIR OPINION, THE GENERAL BUSINESS SITUATION AND LEVEL OF CAPACITY

HAD UTILISATION

"IMPROVED",

SAME" OR "REMAINED THE "DETERIORATED" IN THE FIRST QUARTER OF 1989 AS COMPARED WITH PRECEDING QUARTER.

THE

THEY WERE

EXPECTED TO SECOND

ALSO IMPROVE", QUARTER OF 1989.

ASKED TO INDICATE WHETHER THE SITUATION

"REMAIN THE SAME" OR "DETERIORATE" IN THE

IS

OPINIONS THE

AND TABULATED

ON THE DIFFERENT

ANALYSED. BUSINESS

ECONOMIC

OF RESPONDENTS WERE MOREOVER, THE SURVEY REPORT CONTAINS A SECTION PROBLEMS EXPERIENCED AND

IN EXPECTED BY FIRMS SECTORS AND A BREAKDOWN OF THE VIEWS OF FIRMS BY SIZE GROUPS.

SHOULD

THE THE DEPARTMENT CAUTIONED THAT, IN A SURVEY OF THIS NATURE, RESULTS

BE INTERPRETED

IS WITH CAUTION AS IT

DIFFICULT TO ESTABLISH PRECISELY THE EXTENT TO WHICH RESPONDENTS RECOLLECTION OF

AND PERCEPTION OF THE FUTURE ACCORDS PAST

THE TRENDS.

THE WITH

UNDERLYING

/MEMBERS OF