TNAG-1267-FCO40-1616-Economic-situation-in-Hong-Kong-1983 — Page 278

FC040/1616

machinery decreased by 5% in the first half of 1983 compare with the first half of 1982(10).

available for

a

5.12

Statistics are not yet

making

definite assessment of the growth in building and civil

engineering output in the first half of this year. But as far

as building works are concerned, the reduction of 17% in the

number of persons employed on building sites in March 1983 compared with March 1982 suggests a decline in the demand for

output of the building industry in the first half, even if

public housing projects are taken into account.

5.13

The majority of civil engineering works is

undertaken by the public sector

public sector (including the Mass Transit Railway Corporation). The number of persons employed on civil engineering sites in March 1983 was 11% higher than in March

1982. In view of the strong demand from such large civil engineering projects as the MTR Island Line, civil engineering output probably increased in the first half of this year.

5.14

as

Building and construction costs fell slightly,

the moderate increase in construction wages was more than

offset by the decline in the prices of building and

construction materials. In the first quarter of this year the Labour and Material Costs Index prepared by the Architectural

/Office

(10)

Retained imports of construction machinery

$Mn

Year-on-year growth rate in money terms (%)

1979

239

1980

265

1981

467

1982

617

1983 Jan-Jun

204

SELE

34

11

76

32

-5

50