11.   The government-owned Hong Kong Radio quoted a spokeswoman for the Excelsior Hotel as saying the regional economic downturn has hurt the hotel industry.

12.   The latest increase was attributed to the overall regional downturn and the entry of recent graduates into the labor pool, said government economist K. Y. Tang.

13.   The overall property market has suffered from poor demand and general oversupply, as the regional economic downturn exacerbated a sector already in the midst of a major correction.

14.   Unit costs must fall faster for Cathay to remain in good financial health through the current regional downturn.