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WEDNESDAY, FEBRUARY 9, 1983
QUARTERLY BUSINESS SURVEY RESULTS OUT
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THE CENSUS AND STATISTICS DEPARTMENT TODAY RELEASED THE RESULTS OF THE QUARTERLY BUSINESS SURVEY CONDUCTED IN JANUARY 1983.
FORMING
ABOUT 800 FIRMS FROM VARIOUS INDUSTRIES AND BUSINESSES, A CROSS-SECTION OF THE ECONOMIC COMMUNITY, WERE ASKED ABOUT THEIR BUSINESS EXPERIENCE IN THE FOURTH QUARTER OF 1982, AND THEIR BUSINESS EXPECTATIONS FOR THE FIRST QUARTER OF 1983, A SPOKESMAN FOR THE DEPARTMENT EXPLAINED.
RESULTS OF THE SURVEY INDICATE THAT IN GENERAL, FIRMS IN THE MANUFACTURING SECTOR CONTINUED TO EXPERIENCE A DOWNTREND IN BUSINESS IN THE FOURTH QUARTER OF 1982.
SINCE THE LAST QUARTER OF 1981, THE GENERAL BUSINESS SITUATION IN THE MANUFACTURING SECTOR HAS BEEN RATHER UNFAVOURABLE AND PESSIMISM IN BUSINESS OUTLOOK CONTINUED TO PREVAIL, THE SPOKESMAN SAID.
FIRMS IN THE CONSTRUCTION SECTOR, WHICH HAD REPORTED A DETERIORATION IN BUSINESS IN THE THIRD QUARTER OF 1982, REPORTED A FURTHER SIGNIFICANT DECLINE IN BUSINESS IN THE FOURTH QUARTER OF 1982.
SUCH EXPERIENCE WAS IN LINE WITH THE FIRMS' EARLIER EXPECTATIONS RECORDED IN THE PREVIOUS ROUND OF THE SURVEY.
FIRMS IN THE WHOLESALE AND RETAIL TRADE, RESTAURANTS AND HOTELS SECTOR EXPERIENCED SOME IMPROVEMENTS IN BUSINESS DURING THE FOURTH QUARTER, LARGELY DUE TO SEASONAL FACTORS.
AS REGARDS FIRMS IN THE OTHER SERVICES SECTOR, THEY EXPERIENCED VERY LITTLE IMPROVEMENT IN BUSINESS, CONTRARY TO THEIR EARLIER EXPECTATION FOR A SUBSTANTIAL UPTURN AS INDICATED IN THE PREVIOUS ROUND OF THE SURVEY.
BUSINESS OUTLOOK FOR THE FIRST QUARTER OF 1983 REMAINED PESSIMISTIC AMONG FIRMS IN THE MANUFACTURING, CONSTRUCTION AND *WHOLESALE AND RETAIL TRADE, RESTAURANTS AND HOTELS SECTORS. HOWEVER, SOME IMPROVEMENTS IN BUSINESS ARE ANTICIPATED BY FIRMS IN THE OTHER SERVICES SECTOR.
WITHIN THE MANUFACTURING SECTOR, FIRMS IN THE WEARING APPAREL, TEXTILES, PRINTING AND WATCHES AND CLOCKS INDUSTRIES ACHIEVED SOME IMPROVEMENTS IN BUSINESS IN THE FOURTH QUARTER OF 1982 BUT EXPECT A DETERIORATION FOR THE FIRST QUARTER OF 1983.
RESPONDENTS IN THE PLASTICS, ELECTRICAL MACHINERY, APPLIANCES AND SUPPLIES AND ELECTRONICS INDUSTRIES EXPERIENCED A SIGNIFICANT DOWNTURN IN BUSINESS AND EXPECT THE GENERAL BUSINESS SITUATION TO REMAIN SOMEWHAT UNFAVOURABLE FOR THE FIRST QUARTER OF 1983.
/RESPONDING FIRMS