TNAG-1267-FCO40-1616-Economic-situation-in-Hong-Kong-1983 — Page 270

FC040/1616

the

4.16

Reflecting

reduced level of activity in th construction sector, construction wage rates rose by only 5% in money terms in the twelve months ending March 1983. After adjusting for the effect of consumer price increases, there

was a fall of 4% in real terms. This trend continued into the

second quarter, So that, in the twelve months ending June

1983, construction wage rates rose by 4% in money terms, or

declined by 5% in real terms.

42

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