TNAG-1322-FCO40-1728-Future-of-Hong-Kong-opinion-polls-and-surveys-1984 — Page 314

CONFIDENTIAL

ECONOMIC INDICATORS

12. WITH THE NOTABLE EXCEPTION OF THE STOCK MARKETS, MOST LEADING INDICATORS REMAIN FAVOURABLE. THE EXPORT SECTOR HAS CONTINUED TO GROW, CREATING MORE JOBS AND HIGHER REAL WAGES IN MANUFACTURING

INDUSTRY (THOUGH NOT IN THE CONSTRUCTION INDUSTRY, WHERE EMPLOYMENT AND REAL WAGES HAVE CONTINUED TO FALL, REFLECTING CONTINUING WEAK

DEMAND FOR PRIVATE RESIDENTIAL PROPERTY),

13. RETAINED IMPORTS OF CAPITAL GOODS HAVE CONTINUED TO INCREASE, LARGELY DUE TO AN INCREASE IN RETAINED IMPORTS OF ELECTRICAL

MACHINERY. THIS SUGGESTS THAT INVESTMENT IN PLANT AND MACHINERY

MAY HAVE PICKED UP, BUT IT IS TOO EARLY TO PREDICT WHETHER THIS

INCREASE WILL BE SUSTAINED.

BRAY

FUTURE OF HONG KONG

COPIES TO:-

LIMITED

HD/HKD

HD/FED

HD/PLANNING STAFF

HD/PUSD

DEP HD/PUSD

RESEARCH D (MR WALKER)

LEGAL ADVISERS (SIR J FREELAND) PS

PS/LADY YOUNG

PS/MR LUCE

PS/PUS

SIR W HARDING

SIR C TICKELL MR GOODALL

BUCKINGHAM PALACE

(REPEATED AS REQUESTED}}

THIS TELEGRAM WAS NOT

ADVANCED

PS/LORD PRESIDENT OF THE COUNCIL

PS/HOME SECRETARY

PS/CHANCELLOR OF THE EXCHEQUER

PS/LORD PRIVY SEAL

PS/SECRETARY FOR TRADE & INDUSTRY

COPIES TO:- (VIA ADR)

MR ROBERTS NEWS DEPT

MR BURROWS LEGAL ADVISERS

MR FIFOOT LEGAL ADVISERS MR POWELL NO 10 DOWNING ST.

MR INGHAM NO 10 DOWNING ST.

MR MARTIN ASSESSMENTS STAFF CABINET OFFIC

MR CARTLEDGE CABINET OFFICE

MR BRENNAN

CABINET OFFICE

PS/S OF S FOR DEFENCE

PS/ATTORNEY GENERAL

SIR P CRADOCK ROOM K195

-4- SIR P CRADOCK NO 10 DOWNING ST.

CONFIDENTIAL