XN000022-1991-11-22 — Page 9

FRIDAY, NOVEMBER 22, 1991

HIGHER RETAIL

LIFTED THE

TEMPORARILY AUGUST.

PRICES

FOR

CERTAIN INFLATION RATE IN THE

ESSENTIAL

OF MONTHS

FOODSTUFFS JULY AND

THERE WERE ALSO INCREASES IN HOUSING RENTALS AND IN THE OF CERTAIN LOCAL SERVICES.

PRICES

COMPARED

HOWEVER, SIGNS OF MODERATION RE-EMERGED IN SEPTEMBER. WITH THE SAME MONTH LAST YEAR, THE CPI(A) WAS HIGHER BY 12.6% IN JULY, 12.7% IN AUGUST, AND 11.5% IN SEPTEMBER.

THE

THE GDP DEFLATOR, AS AN OVERALL INDICATOR OF INFLATION FOR ECONOMY AS A WHOLE, ROSE BY ABOUT 9% IN THE SECOND QUARTER OVER A YEAR EARLIER.

INDICES, IT ROSE AT A LESS RAPID RATE THAN THE CONSUMER PRICE MAINLY DUE TO MORE MODERATE INCREASES IN THE PRICES OF EXPORTS AND OF PLANT AND EQUIPMENT, AND TO A LESSER EXTENT, IN THE PRICES OF BUILDING AND CONSTRUCTION OUTPUT.

LABOUR THE

IN THE THIRD MARKET APPEARED TO HAVE TIGHTENED

RATE IN THE THIRD QUARTER. THE SEASONALLY ADJUSTED UNEMPLOYMENT

THAN IN THE QUARTER, AT 2.1%, WAS 0.3 OF A PERCENTAGE POINT LOWER PRECEDING QUARTER, THOUGH 0.4 OF A PERCENTAGE POINT HIGHER THAN IN THE SAME QUARTER LAST YEAR,

A PERCENTAGE PERCENTAGE

THE UNDEREMPLOYMENT RATE, AT 1.5%, WAS 0.2 OF POINT LOWER THAN IN THE PRECEDING QUARTER, THOUGH 0.5 OF A

YEAR. HIGHER POINT

THAN IN THE SAME QUARTER LAST

PROPORTION

EMPLOYED

YEAR

THE OF THE IN THE SECOND QUARTER, POPULATION WORKING LONG HOURS INCREASED SLIGHTLY COMPARED WITH A EARLIER.

ALTHOUGH THE NUMBER OF VACANCIES FELL ACROSS THE BOARD, EMPLOYMENT CONTINUED TO RISE.

THE

THE PROPERTY

MARKET

TOTAL

VARIED AMONG SUB- GATHERED MORE MEMORANDUM RELATED

OF PERFORMANCE SECTORS. THE MARKET FOR SMALL TO MEDIUM-SIZED FLATS STRENGTH IN JULY AFTER THE CONCLUSION OF THE SINO-BRITISH OF UNDERSTANDING ON THE IMPLEMENTATION OF THE NEW AIRPORT AND PROJECTS. THE DEMAND FOR LARGE FLATS ALSO IMPROVED FURTHER.

PROPERTY MARKET, AGAIN DURING THE A NUMBER OF

RESIDENTIAL IN THE ACTIVITIES SPECULATIVE WHICH HAD SUBSIDED SOMEWHAT IN JUNE, INTENSIFIED THIRD QUARTER. THIS PROMPTED THE GOVERNMENT TO ADOPT MEASURES WITH A VIEW TO CURBING PROPERTY SPECULATION.

THE MARKET THE MARKET FOR SHOPPING SPACE REMAINED STEADY. OFFICE SPACE CONTINUED TO ADJUST TO THE OVER-SUPPLY SITUATION, THE MARKET FOR FACTORY PREMISES WAS STILL RELATIVELY QUIET,

FOR WHILE

IN THE

SECTOR, FINANCIAL

OBSERVED DURING THE THIRD QUARTER.

THE

FOLLOWING

DEVELOPMENTS

WERE

/FIRST, AFFECTED