XN000022-1996-09-20 — Page 15

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Value of manufacturers' orders-on-hand in July

The value of manufacturers' orders-on-hand for local production in July 1996 decreased by 7% over a year earlier, according to the provisional results of a monthly survey released today (Friday) by the Census and Statistics Department.

This was in line with the generally weak domestic export performance. The high base of comparison a year earlier also contributed.

Comparing July 1996 with July 1995, a significant increase in the value of orders was registered in the fabricated metal products industry (+23%). A notable increase in the value of orders was also registered in the printing and publishing industry (+8%).

On the other hand, decreases in the value of orders were recorded in the electronic products industry (-15%), the plastic products industry (-14%), the textiles industry (-8%), the electrical products industry (-5%) and the wearing apparel industry (-3%).

Compared with June 1996, and bearing in mind that this comparison may be affected by seasonal factors, the value of manufacturers' orders-on-hand in July 1996 decreased by 1%.

The monthly survey of orders-on-hand covers a sample of some 300 manufacturing firms engaging 50 or more workers.

Manufacturers' orders-on-hand refer to orders and parts of orders received earlier by manufacturers for local production which remain unfilled as at the end of the reference month.

Orders received by traders not engaged in production are included if such orders are further placed to manufacturers for production locally. However, orders placed to manufacturing firms for production in China and other places outside Hong Kong are not included in this series of orders-on-hand statistics.

A spokesman of the department pointed out that caution should be exercised in interpreting the manufacturers' orders-on-hand figures in a single month. Instead, the trend movement of the series as displayed over a wider span of time points should be looked at.