4
The slow-down was mainly concentrated in spendings on motor vehicles and other durable goods, while spendings on consumer non-durables and on services recorded increases of 5.8% and 3.6% respectively in real terms.
Government consumption expenditure increased by 6.2% in real terms in the fourth quarter of 1995 over a year earlier.
The implicit price deflator of the GDP rose by 5% in the fourth quarter of 1995 over a year earlier. Excluding the effect due to change in terms of trade, the domestic demand deflator increased by 5.5% over the same period.
This relatively moderate increase was mainly due to the moderation in consumer prices, property prices, and import prices for machinery and equipment.
The estimates of GDP and its components for earlier periods are also revised to incorporate more up-to-date data. The real growth rate of GDP for 1994 was revised upwards from 5.4% to 5.5%.
Summaries of the latest GDP figures are presented in tables I and 2.
More detailed quarterly estimates of GDP from the first quarter of 1994 to the fourth quarter of 1995 are published in a report entitled "Quarterly Estimates of Gross Domestic Product 4th Quarter 1995".
This bilingual report is now on sale at $8 per copy at the Government Publications Centre, Queensway Government Offices, Low Block, Ground Floor, 66 Queensway, Hong Kong.
It is also available at the Publications Unit of the Census and Statistics Department, 19th Floor, Wanchai Tower, 12 Harbour Road, Wan Chai, Hong Kong.
Telephone enquiries may be directed to the National Income Branch (1) of the Census and Statistics Department on 2582 5077.
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