 |
January, 1999
| BANKING |
| |
Amout |
% change, yoy, unless otherwise stated |
|
($bn) |
Monthly |
Quarterly |
Yearly |
|
11/98 |
11/98 |
10/98 |
Q3/98 |
Q2/98 |
Q1/98 |
Q4/97 |
1997 |
1996 |
1995 |
| HKD M0 (in HKD) |
78.8 |
0.3 |
(0.5) |
(2.0) |
(3.1) |
(0.2) |
5.3 |
5.3 |
7.3 |
5.2 |
| HKD M1 (in HKD) |
179.0 |
(3.2) |
(13.3) |
(17.2) |
(17.0) |
(6.5) |
(5.1) |
(5.1) |
15.5 |
2.2 |
| HKD M2 (in HKD) |
1,805.2 |
10.4 |
9.5 |
3.6 |
0.4 |
7.8 |
9.9 |
9.9 |
19.3 |
15.0 |
| HKD M3 (in HKD) |
1,816.7 |
10.0 |
9.1 |
3.2 |
0.3 |
7.5 |
9.9 |
9.9 |
18.9 |
14.9 |
| Spread (Prime-Hibor3) (pa) (%) |
na |
3.69 |
3.46 |
0.18 |
2.32 |
1.29 |
(0.57) |
1.71 |
3.07 |
2.78 |
| Res. mortg. loans outstanding |
|
|
|
|
|
|
|
|
|
|
| (before adjusted to reclassification) |
na |
8.7 |
8.8 |
9.4 |
16.9 |
23.3 |
28.3 |
28.3 |
18.9 |
15.0 |
| (after adjusted to reclassification) |
455.9 |
na |
na |
na |
na |
na |
na |
na |
na |
na |
| Loans-to-Deposits Ratio (pa) (%) |
|
|
|
|
|
|
|
|
|
|
| (Total) |
na |
113.6 |
117.7 |
120.4 |
135.7 |
144.5 |
156.9 |
158.1 |
164.2 |
174.4 |
| (HKD) |
na |
101.5 |
101.6 |
105.1 |
112.1 |
113.2 |
113.7 |
110.3 |
106.0 |
107.7 |
| Foreign Currency Reserves^ (in US$bn) |
88.6 |
88.6 |
88.7 |
88.4 |
96.5 |
96.8 |
93.2 |
93.2 |
69.6 |
57.2 |
| |
|
|
|
|
|
|
|
|
|
|
| Deposits |
2,929.3 |
10.3 |
9.5 |
6.2 |
1.7 |
6.8 |
8.4 |
8.4 |
10.2 |
13.8 |
| HKD Deposits @ |
1,676.1 |
10.2 |
8.9 |
2.6 |
(0.6) |
7.3 |
9.8 |
9.8 |
19.5 |
15.3 |
| FC Deposits # |
1,253.1 |
10.3 |
10.3 |
11.3 |
4.9 |
6.0 |
6.6 |
6.6 |
(0.4) |
12.1 |
| |
|
|
|
|
|
|
|
|
|
|
| Loans & Advances |
3,328.6 |
(20.5) |
(18.7) |
(21.4) |
(16.1) |
(5.5) |
5.3 |
5.3 |
4.7 |
14.6 |
| Loans in HKD |
1,701.6 |
(1.7) |
(2.9) |
(4.8) |
3.0 |
9.5 |
20.4 |
20.4 |
16.9 |
10.6 |
| Loans in FC |
1,627.0 |
(33.7) |
(29.7) |
(33.5) |
(28.5) |
(15.6) |
(3.6) |
(3.6) |
(1.4) |
16.6 |
| Loans for use in HK1 |
2,129.1 |
(3.7) |
(3.1) |
(3.5) |
4.1 |
12.1 |
22.6 |
22.6 |
16.0 |
11.9 |
| Loans for use outside HK2 |
1,199.5 |
(39.3) |
(35.6) |
(41.1) |
(35.8) |
(23.0) |
(9.8) |
(9.8) |
(3.4) |
16.4 |
| |
|
|
|
|
|
|
|
|
|
|
| Loans for use in HK (eop) |
2,129.1 |
(3.7) |
(3.1) |
(3.5) |
4.1 |
12.1 |
22.6 |
22.6 |
15.9 |
11.9 |
| To purchase residential properties |
na |
na |
na |
8.1 |
16.0 |
22.5 |
28.8 |
28.8 |
20.9 |
16.9 |
| Property Development & Investment |
na |
na |
na |
0.7 |
7.3 |
18.8 |
31.6 |
31.6 |
26.0 |
5.5 |
| Trade Finances1 |
na |
na |
na |
(16.8) |
(9.7) |
(1.2) |
4.3 |
4.3 |
6.7 |
19.3 |
| Financial Concerns |
na |
na |
na |
(1.8) |
8.0 |
10.9 |
26.2 |
26.2 |
16.7 |
9.6 |
| Wholesale & Retail Trade |
na |
na |
na |
(4.8) |
(2.4) |
5.2 |
15.7 |
15.7 |
6.3 |
20.2 |
| Manufacturing |
na |
na |
na |
(10.8) |
(8.0) |
3.2 |
3.8 |
3.8 |
7.6 |
16.4 |
| Credit Card |
na |
na |
na |
20.7 |
26.6 |
31.9 |
29.0 |
29.0 |
17.3 |
28.9 |
| Consumer Finance ¡± |
na |
na |
na |
(11.3) |
1.0 |
2.7 |
19.8 |
19.8 |
13.5 |
2.8 |
| PRIVATE CONSUMPTION |
| |
|
% change, yoy, unless otherwise stated |
| |
Amount |
Monthly |
Quarterly |
Yearly |
| |
10/98 |
10/98 |
9/98 |
Q3/98 |
Q2/98 |
Q1/98 |
Q4/97 |
1997 |
1996 |
1995 |
| Retail Sales |
(Value) |
$15.8bn |
(20.0) |
(21.5) |
(19.4) |
(15.5) |
(13.3) |
(2.1) |
4.9 |
6.3 |
4.6 |
| |
(Volume) |
na |
(18.9) |
(21.7) |
(19.7) |
(16.3) |
(14.4) |
(4.8) |
1.1 |
1.6 |
(1.4) |
| Restaurant Receipts |
(Value) |
$14.3bn
(98Q3) |
na |
na |
(4.4) |
(4.0) |
(5.0) |
0.4 |
6.0 |
5.0 |
4.7 |
| |
(Volume) |
na |
na |
na |
(5.9) |
(6.7) |
(9.0) |
(4.0) |
2.0 |
2.0 |
(2.0) |
| Department Store |
(Value) |
na |
(30.2) |
(31.7) |
(26.6) |
(26.4) |
(26.9) |
(11.7) |
(3.2) |
4.5 |
4.4 |
| |
(Volume) |
na |
(29.0) |
(33.1) |
(28.5) |
(28.8) |
(29.2) |
(16.0) |
(9.3) |
(1.5) |
(3.8) |
| Visitors Arrivals |
0.85mn |
0.2 |
0.2 |
10.5 |
(16.9) |
(24.9) |
(23.1) |
(11.1) |
14.7 |
9.3 |
| PROPERTY |
| |
|
% change, yoy, unless otherwise stated |
| |
Amount |
Monthly |
Quarterly |
Yearly |
| |
11/98 |
11/98 |
10/98 |
Q3/98 |
Q2/98 |
Q1/98 |
Q4/97 |
1997 |
1996 |
1995 |
| Sales & purchase agreements |
|
|
|
|
|
|
|
|
|
|
| Value |
$38.5bn |
(36.0) |
(66.2) |
(78.2) |
(64.8) |
(59.0) |
(18) |
83 |
79 |
37 |
| Number |
15.1thou. |
(1.9) |
(48.3) |
(64.4) |
(52.3) |
(52.0) |
(19) |
39 |
51 |
(15) |
| New res. mortg. approved of 33 AIs |
|
|
|
|
|
|
|
|
|
|
| Number, during the period |
9.5thou. |
50.9 |
(35.5) |
(55.5) |
(60.1) |
(53.9) |
(42.5) |
18.5 |
68.5 |
11.4 |
| Value per loan, during the period |
$1.54mn |
(18.5) |
(30.1) |
(28.6) |
(10.5) |
15.3 |
24.2 |
27.2 |
6.8 |
2.8 |
| Private residential |
|
|
|
|
|
|
|
|
|
|
| Price |
na |
na |
na |
(38.3) |
(25.2) |
(10.4) |
28.3 |
40.9 |
9.6 |
(7.2) |
| 450-750 sf sized |
na |
na |
na |
(39.1) |
(26.0) |
(11.2) |
27.6 |
40.3 |
9.9 |
(7.8) |
| 750-1,100 sf sized |
na |
na |
na |
(40.4) |
(27.2) |
(12.5) |
32.0 |
46.1 |
9.2 |
(10.3) |
| Rental |
na |
na |
na |
(21.5) |
(10.9) |
(3.8) |
13.1 |
13.5 |
(1.7) |
2.4 |
| 450-750 sf sized |
na |
na |
na |
(22.3) |
(13.5) |
(7.6) |
11.9 |
13.5 |
0.0 |
1.8 |
| 750-1,100 sf sized |
na |
na |
na |
(22.7) |
(13.2) |
(7.1) |
11.9 |
13.3 |
(2.7) |
1.6 |
| Residential construction completed (sq.m.), ytd |
595thou. |
37 Sep |
44 Aug |
42.3 |
(6) |
244 |
(7) |
(7) |
(13) |
(30) |
| Res.l construction consent to start work (sq.m.), ytd |
948thou. |
(27.0) Sep |
(29.9) Aug |
(29.8) |
(39) |
(26) |
54 |
54 |
54 |
34 |
| MACRO INDICATORS |
| |
Amount |
% change, yoy unless otherwise stated |
| |
($bn) |
Monthly |
Quarterly |
Yearly |
| |
11/98 |
11/98 |
10/98 |
Q3/98 |
Q2/98 |
Q1/98 |
Q4/97 |
1997 |
1996 |
1995 |
| GDP |
na |
na |
na |
(7.1) |
(5.1) |
(2.6) |
2.8 |
5.3 |
4.6 |
3.9 |
| CPI (A) |
na |
(0.9) |
(0.1) |
2.3 |
4.2 |
4.8 |
5.1 |
5.8 |
6.0 |
8.7 |
| Labour |
|
|
|
|
|
|
|
|
|
|
| Unemployment Rate (%) |
na |
5.5 |
5.3 |
4.9 |
4.4 |
3.5 |
2.5 |
2.2 |
2.8 |
3.2 |
| Unemployed (¡¥000 people) |
na |
na |
188.7 |
179.4 |
143.7 |
106.2 |
76.8 |
71.3 |
86.1 |
95.6 |
| External Trade |
|
|
|
|
|
|
|
|
|
|
| Total Exports |
118.0 |
(9.3) |
(17.5) |
(10.3) |
(3.1) |
(1.0) |
7.4 |
4.2 |
4.0 |
14.9 |
| Domestic Exports |
15.1 |
(15.8) |
(22.0) |
(11.9) |
(3.6) |
(7.4) |
1.9 |
(0.4) |
(8.4) |
4.3 |
| Re-exports |
97.9 |
(8.2) |
(16.7) |
(10.1) |
(3.0) |
0.1 |
8.4 |
5.0 |
6.6 |
17.4 |
| Total Imports |
113.8 |
(14.4) |
(22.4) |
(15.5) |
(6.0) |
(5.1) |
5.8 |
5.2 |
3.0 |
19.3 |
| Trade Balance (in $bn) |
(0.7) |
(0.7) |
(0.7) |
(6.1) |
(35.0) |
(32.6) |
(31.7) |
(159.1) |
(137.8) |
(147.1) |
^ Foreign Currency Reserves in Land Fund are not included before June 30, 1997.
 Consumer finance included individual private and business loans other than property purchases & credit card advance.
1 Loans to finance merchandising trade not touching HK would be included in trade finance & loans for use in HK.
2 Others loans where the place of use is not known would be included in loans for use outside HK.
| pa: Period averages |
@ adjusted to include swap deposits |
| # adjusted to exclude swap deposits |
eop: End-of-period |
| na: Not applicable |
This material is prepared by the Economic Research Department. Data on Hong Kong are obtained from the Census and Statistics Department & the Hong Kong Monetary Authority. It is based upon information which we consider reliable. Opinions expressed herein are subject to change without notice.
Chart 1: After the SAR Government's various measures to stabilize the property market and a series of interest rate cut, sales and purchase agreements increased in both value and volume terms.
Chart 2: The emerging of the Euro should help to narrow the gap between the US and Non-US deposits growth. Also, in spite of the falling deposit rates, growth of HKD deposits would remain solid.
Chart 3: Housing and food account for over 50% of the household consumption basket, and the fall in these prices have driven down the overall inflation rate. |
|
