XN000022-1993-05-13 — Page 29

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THURSDAY, MAY 13, 1993

NONETHELESS, THE BANKS

GENERALLY EXPECT THAT THE GENERAL BUSINESS SITUATION WILL IMPROVE FURTHER IN THE SECOND QUARTER.

IN THE CONSTRUCTION SECTOR, THE GENERAL BUSINESS SITUATION AND CAPACITY UTILISATION DETERIORATED IN THE FIRST QUARTER DUE то THE LUNAR NEW YEAR HOLIDAYS.

MEANWHILE, KEEN PRICE COMPETITION AMONG LOCAL FIRMS REMAINED THE PROBLEM MOST FREQUENTLY QUOTED IN THE SECTOR. IN ADDITION, INSUFFICIENT BUSINESS AND HIGH WAGE RATES WERE OTHER MAJOR PROBLEMS ENCOUNTERED.

A

ABOUT 500 FIRMS FROM VARIOUS INDUSTRIES AND TRADES, FORMING 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, IN

THEIR OPINION, THE GENERAL BUSINESS SITUATION AND LEVEL OF CAPACITY UTILISATION HAD 'IMPROVED', 'REMAINED THE SAME' 'DETERIORATED' IN THE FIRST QUARTER OF 1993 AS COMPARED WITH PRECEDING QUARTER.

THE

OR

THE

THEY WERE ALSO ASKED TO INDICATE WHETHER THE SITUATION IS EXPECTED ΤΟ 'IMPROVE' 'REMAIN THE SAME' OR 'DETERIORATE' IN THE SECOND QUARTER OF 1993.

THE OPINIONS OF RESPONDENTS WERE THEN ANALYSED AND THE SUMMARY FINDINGS PUBLISHED IN THE "REPORT ON QUARTERLY BUSINESS SURVEY, FIRST QUARTER 1993"

•

MOREOVER, THE SURVEY REPORT CONTAINS A SECTION ON THE BUSINESS PROBLEMS EXPERIENCED AND EXPECTED BY FIRMS IN THE DIFFERENT ECONOMIC SECTORS.

THE DEPARTMENT REMARKED THAT, IN A SURVEY OF THIS NATURE, THE RESULTS SHOULD BE INTERPRETED WITH CAUTION AS IT IS DIFFICULT TO ESTABLISH PRECISELY THE EXTENT TO WHICH RESPONDENTS' RECOLLECTION THE PAST AND PERCEPTION OF THE FUTURE ACCORDS WITH THE UNDERLYING TRENDS.

OF

MEMBERS OF THE PUBLIC MAY BUY THE SURVEY REPORT FROM THE GOVERNMENT PUBLICATIONS CENTRE, GROUND FLOOR, GENERAL POST OFFICE BUILDING, CONNAUGHT PLACE, OR FROM THE PUBLICATIONS SALES COUNTER OF THE CENSUS AND STATISTICS DEPARTMENT, 19TH FLOOR, WANCHAI TOWER, 12 HARBOUR ROAD, WAN CHAI, AT $12.5 A COPY.

FURTHER

OBTAINED FROM

DETAILS OF THE QUARTERLY BUSINESS SURVEY MAY BE THE INDUSTRIAL RESEARCH SECTION OF THE CENSUS AND STATISTICS DEPARTMENT ON TEL. 839 3223.

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