Date : 26 . 02 . 1997

QUARTERLY MANUFACTURING INDUSTRY TENDENCY SURVEY
PRODUCTION, SALES, AND PRICES
IN 1996 FOURTH QUARTER(OCTOBER - NOVEMBER - DECEMBER)
EXPECTATIONS FOR THE FIRST QUARTER OF THE YEAR 1997
(JANUARY - FEBRUARY - MARCH)


ACCORDING TO THE PROVISIONAL RESULTS OF QUARTERLY MANUFACTURING INDUSTRY TENDENCY SURVEY COMPILED FROM 1977 ESTABLISHMENTS, THE PRODUCTION WEIGHTED CAPACITY UTILIZATION WAS 79.8 % IN THE FOURTH QUARTER OF 1996. THE FIGURE WAS THE SAME IN THE SAME QUARTER OF PREVIOUS YEAR.

The reasons for inability to full capacity utilization are:


                                    1995 4rd quarter     1996 4rd quarter
                                  -------------------   ------------------

Insufficient local demand                % 49.4              % 44.8
Insufficient foreign demand              % 15.8              % 16.2
Financial problems                       %  4.4              %  8.1
Insufficient local raw material supply   %  3.8              %  3.2
Insufficient foreign raw material supply %  2.0              %  1.7
Problems with labour                     %  4.0              %  2.5

64.1 % of the establishments stated an increased while the 20.8 % stated a decrease of production in the fourth quarter of 1996. The figures in the same quarter of the previous year were 48.0 %, and 35.0 %, respectively.

44.6 % of the establishments expect an increase, while 28.4 % expect a decrease in production in the first quarter of 1997. In the same quarter of 1996, the expectations were 44.6 %, and 24.2 %, respectively.

As for domestic sales,

58.8 % of the establishments stated an increased while the 25.2 % stated a decrease of production in the fourt quarter of 1996. The figures in the same quarter of the previous year were 49.9 %, and 32.3 %, respectively.

39.6 % of the establishments expect an increase, while 32.0 % expect a decrease in production in the first quarter of 1997. The expectations in previous year were 41.2 %, and 29.4 %, respectively.