XN000022-1993-02-12 — Page 10

FRIDAY, FEBRUARY 12, 1993

LOOKING AHEAD, THEY EXPECT THAT BOTH ASPECTS WILL

DETERIORATE

IN THE FOLLOWING QUARTER WHEN A LOW SEASON OF BUSINESS SETS IN.

THAT

FOR THE BANKING INDUSTRY, THE MAJORITY OF BANKS REPORTED THE GENERAL BUSINESS SITUATION IN THE QUARTER WAS JUST BROADLY THE SAME AS IT WAS IN THE PREVIOUS QUARTER, ALTHOUGH IMPROVEMENT NORMALLY OCCURS IN THE FOURTH QUARTER.

THE

INDUSTRY

WAS TROUBLED PARTICULARLY BY KEEN PRICE OF EXPERIENCED STAFF AND

HIGH STAFF

COMPETITION, SHORTAGE

COSTS. LOOKING AHEAD, THE BANKS GENERALLY EXPECT THAT THE GENERAL BUSINESS SITUATION WILL DETERIORATE IN THE FOLLOWING QUARTER.

ABOUT 1,000 FIRMS FROM VARIOUS INDUSTRIES AND TRADES, FORMING A CROSS-SECTION OF THE BUSINESS COMMUNITY, PARTICIPATED IN THE SURVEY.

THEY WERE ASKED ABOUT THEIR BUSINESS EXPERIENCES AND EXPECTATIONS AS WELL AS THE BUSINESS PROBLEMS THEY FACED.

THE RESULTS OF THE QUARTERLY BUSINESS SURVEY, OBTAINED WITH A MINIMUM TIME LAG, ARE INTENDED TO PROVIDE A SOURCE OF REFERENCE FOR MAKING A QUICK ASSESSMENT OF THE CURRENT ECONOMIC SITUATION OF HONG KONG FROM A SHORT-TERM PERSPECTIVE.

IN THE SURVEY, PARTICIPATING FIRMS WERE ASKED TO INDICATE WHETHER, JN

THEIR OPINION, THE GENERAL BUSINESS SITUATION AND THE LEVEL OF CAPACITY UTILISATION HAD IMPROVED ' 'REMAINED THE SAME' OR 'DETERIORATE' IN THE FOURTH QUARTER OF 1992 AS COMPARED WITH THE PRECEDING QUARTER.

+

THEY WERE ALSO ASKED TO INDICATE WHETHER THE SITUATION IS EXPECTED TO IMPROVE', 'REMAIN THE SAME OR

E

↑ DETERIORATE' IN THE FIRST QUARTER OF 1993.

THE OPINIONS OF RESPONDENTS WERE THEN ANALYSED AND THE SUMMARY FINDINGS PUBLISHED IN THE "REPORT ON QUARTERLY BUSINESS SURVEY, FOURTH QUARTER 1992",

MOREOVER, THE SURVEY REPORT CONTAINS A SECTION ON THE BUSINESS PROBLEMS EXPERIENCED AND EXPECTED BY FIRMS IN THE DIFFERENT ECONOMIC SECTORS, AND A BREAKDOWN OF THE VIEWS OF PIRMS BY EMPLOYMENT SIZE GROUP.

THE DEPARTMENT POINTED OUT THAT IN A SURVEY OF THIS NATURE, THE RESULTS SHOULD BE INTERPRETED WITH CAUTION AS IT WAS DIFFICULT TO ESTABLISH PRECISELY THE EXTENT TO WHICH RESPONDENTS 1 RECOLLECTION OF THE PAST AND PERCEPTION OF THE FUTURE ACCORDED WITH THE UNDERLYING TRENDS.

MEMBERS OF THE PUBLIC MAY BUY THE SURVEY REPORT FROM 'THE GOVERNMENT PUBLICATIONS SALES CENTRE, GROUND FLOOR, GENERAL POST OFFICE BUILDING, CONNAUGHT PLACE, OR FROM THE PUBLICATIONS SALES COUNTER OF THE CENSUS AND STATISTICS DEPARTMENT, 19TH FLOOR, WANTHAI TOWER, 12 HARBOUR ROAD, WAN CHAI, AT $9 A COPY.

FURTHER

DETAILS OF THE QUARTERLY BUSINESS OBTAINED FROM THE INDUSTRIAL RESEARCH SECTION OF STATISTICS DEPARTMENT ON TEL 839 3223.

SURVEY MAY BE THE CENSUS AND

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