TNAG-1483-FCO40-2037-Economic-situation-in-Hong-Kong-1986 — Page 242

comparison, these increases are

are probably still not sufficient

to make up for the significant decreases in the previous two

years.

5.19

sector

public

As the increased building activity

the private

was largely offset by the reduced activity in the

sector, the pressure on construction costs was not

strong. Construction wage rates (paragraph 4.13) and the prices of certain building and construction materials, such as

(15) teak, tiles and pipes

showed only moderate increases. As a result, the Labour and Material Cost Index prepared by the Architectural Office recorded a year-on-year increase of

5% in the first quarter of 1986. However, over the same period, the Tender Price Index for public building projects prepared by the Architectural Office and the Tender Price

Index for public housing projects prepared by the Housing

/Department

(15) Percentage

changes in the prices of selected building and

construction materials:

1986 Q1/

1985 Q1

(8%)

Teak

Mosaic tiles

Wall tiles

5.4

7.8

2.6

PVC pipes

2.6

Portland cement (ordinary)

-0.6

Mild steel round bar (20 mm & above)

-0.3

48