TNAG-0621-FCO40-769-Budget-of-Hong-Kong-1977 — Page 142

G.F. 323

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34.

example, the figures for 1974 reflect production for the year ending

March 1975 which, in turn, would be reflected in the export statistics

for the year ending second quarter 1975. The quantum index of exports

of cotton clothing for the second half of 1974 was 105 (1973 100) and

for the first half of 1975 was 130.

=

70.

The Census and Statistics Department has recently made use

of the quarterly textile production statistics to construct quarterly

indexes of textile production. The movements in the overall index for

the textile industry broadly accord with that of employment in the

sector stagnation in the first half of 1974, a down turn starting

from the third quarter of 1974 and a recovery towards the middle of 1975.

Textile production grew rapidly up to the third quarter of 1976 when

slightly slcakened demand overseas for clothing resulted both in production

slowing down and in the building up of a relatively high level of stock.

The individual indexes show expansion in cotton products, consistent with

the denim boom. The strong upward movement of the index for cotton piece

goods includes increased production in physical quantities and also a

shift from grey cotton cloth to bleached and dyed fabrics, a product of

higher quality and value.

Table 35 J

Orders on hand in manufacturing

71.

The movements of these indexes of textile production are

consistent with the movements of the index of orders on hand for the

textile industry constructed from information collected from the monthly

panel of large manufacturers.

They received large orders in the fourth

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