TNAG-2127-FCO40-3037-Investment-in-Hong-Kong-1990 — Page 96

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gross terms. On investment in property, statistics

are available on building completions and on consents

to commence work.

Investment in plant and machinery

(all growth rates quoted in this section are on a

year-on-year comparison and are expressed in real

terms, unless otherwise indicated)

(a) Capital expenditure on plant and

machinery

Table 1

3.

According to the preliminary quarterly GDP

estimates, private sector expenditure on plant and

machinery rose by 1% in the first quarter of 1990,

while public sector expenditure was 11% higher. The.

private sector continued to dominate investment in

plant and machinery, accounting for about 96% of the

total. Taking both sectors together overall

expenditure on plant and machinery showed an

increase of only 1% (Table 1). Although this already

represented an improvement from the declines of 5% and

13% respectively in the third and fourth quarters of

1989, investment intentions were still generally

subdued.

G.F. 326

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