MONDAY, AUGUST 22, 1983
REPORT ON QUARTERLY BUSINESS SURVEY
* * *
THE CENSUS AND STATISTICS DEPARTMENT TODAY RELEASED THE RESULTS OF THE QUARTERLY BUSINESS SURVEY CONDUCTED IN JULY 1983.
ABOUT 800 FIRMS FROM VARIOUS INDUSTRIES AND BUSINESSES FORMING A CROSS-SECTION OF THE ECONOMIC COMMUNITY, WERE ASKED ABOUT THEIR BUSINESS EXPERIENCE IN THE SECOND QUARTER OF 1983. AND THE IR BUSINESS EXPECTATIONS FOR THE THIRD QUARTER OF 1983.
MANUFACTURING"
RESULTS OF THE SURVEY INDICATE THAT FIRMS IN THE SECTOR EXPERIENCED A SHARP RECOVERY IN BUSINESS IN THE SECOND QUARTER OF 1983.
THE IMPROVEMENT IN BUSINESS TURNED OUT TO BE CONSISTENT WITH THE EXPECTATIONS OF FIRMS SHOWN IN THE PREVIOUS ROUND OF SURVEY AND THE OUTLOOK FOR THE THIRD QUARTER OF 1983 IS OPTIMISTIC WITH VIEWS OF RESPONDING FIRMS ACROSS DIFFERENT MANUFACTURING INDUSTRIES INDICATING FURTHER IMPROVEMENT IN BUSINESS PERFORMANCE.
ON THE OTHER HAND, FIRMS IN THE 'CONSTRUCTION' AND WHOLESALE AND RETAIL TRADE, RESTAURANTS AND HOTELS' SECTORS EXPERIENCED DETERIORATION IN BUSINESS IN THE SECOND QUARTER.
THE BUSINESS OUTLOOK FOR THE THIRD QUARTER AS INDICATED BY RESPONDENTS IN THE 'CONSTRUCTION' SECTOR CONTINUES TO BE RATHER PESSINISTIC AND A DETERIORATION IS PREDICTED, BUT AN IMPROVEMENT IN THE BUSINESS SITUATION IS ANTICIPATED BY FIRMS IN THE 'WHOLESALE AND RETAIL TRADE, RESTAURANTS AND HOTELS' SECTOR.
AS FOR OTHER SERVICES, FIRMS EXPERIENCED MODERATE IMPROVEMENT IN BUSINESS IN THE SECOND QUARTER AND PROSPECTS FOR THE THIRD QUARTER ARE BETTER.
THE BUSINESS OF FIRMS ACROSS ALL MANUFACTURING INDUSTRIES PICKED UP STRONGLY IN THE SECOND QUARTER WITH MAJOR IMPROVEMENTS REPORTED BY FIRMS IN THE 'PLASTICS', 'ELECTRONICS' AND 'ELECTRICAL MACHINERY, APPLIANCES AND SUPPLIES' INDUSTRIES.
WHILE RESPONDENTS IN THE TEXTILES' INDUSTRY PREDICT THAT THEIR BUSINESS SITUATION IN THE THIRD QUARTER WILL BE SIMILAR TO THAT IN THE SECOND QUARTER, FIRMS IN ALL THE OTHER MANUFACTURING INDUSTRIES ARE CONFIDENT OF CONTINUING IMPROVEMENT IN BUSINESS IN THE THIRD QUARTER.
FIRMS IN THE WHOLESALE AND RETAIL TRADE BUSINESS, AFTER EXPERIENCING A BUSINESS DOWNTURN IN THE SECOND QUARTER, FORESEE BETTER BUSINESS PROSPECTS FOR THE THIRD QUARTER.
THE DETERIORATION IN BUSINESS REPORTED BY FIRMS IN THE *RESTAURANTS' BUSINESS IN THE SECOND QUARTER WAS ATTRIBUTABLE TO SEASONAL FACTORS. AN IMPROVEMENT IN BUSINESS IS ANTICIPATED FOR THE THIRD QUARTER.
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