Hong Kong Releases Survey on Business Prospects for 2002

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Last updated at: (Beijing Time) Saturday, February 09, 2002

Hong Kong Releases Survey on Business Prospects for 2002

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Manufacturers on the whole expect some decreases in the volume of orders in 2002 compared with 2001, according to the results of a recent half-yearly Business Prospects Survey released Friday by the Census and Statistics Department of the Hong Kong Special Administrative Region (SAR).

Analyzed by manufacturing industry, manufacturers in most industries generally expect decreases in the volume of orders in both the first and the second half of 2002 compared with the same periods in 2001, yet with the second half of the year faring somewhat better than the first half. Only the manufacturers in theelectronic and electrical products and electrical machinery industry expect some increases in the volume of orders in the second half of 2002.

Manufacturers in most industries anticipate capacity utilization to drop in 2002 as compared with 2001. Profit margins are also envisaged to fall in 2002.

On export performance, exporters and bankers in general are downbeat about the export outlook for the first half of 2002.

Yet for the second half of 2002, most exporters expect little change or some decreases in the value of total exports of goods compared with a year earlier, while bankers in general are slightly more optimistic and expect little change or some increases.

As for the construction firms, they generally expect some decreases in the volume of construction output in 2002.

The survey is conducted on a half-yearly basis, covering about 250 firms in the major manufacturing industries, the import/exporttrades, the banking industry and the construction sector. It collects views of firms on the short-term prospects of the variousmajor business sectors covered and aims at providing a quick reference, with minimum time lag, for assessing the short-term future economic performance of Hong Kong.

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