XN000022-1979-08-16 — Page 2

THURSDAY, AUGUST 16, 1979

QUARTERLY BUSINESS SURVEY

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THE CENSUS AND STATISTICS DEPARTMENT HAS COMPILED A REPORT ON A QUARTERLY BUSINESS SURVEY HELD IN JULY.

ABOUT 750 FIRMS FROM VARIOUS INDUSTRIES, FORMING A CROSS- SECTION OF THE ECONOMIC COMMUNITY, WERE ASKED ABOUT THEIR BUSINESS EXPERIENCE IN THE SECOND QUARTER OF 1979, AND THEIR BUSINESS EXPECTATIONS FOR THE THIRD QUARTER,

THE SURVEY SUGGESTS THAT FOR THE ECONOMY AS A WHOLE, FAIRLY SUBSTANTIAL ADVANCES WERE ACHIEVED IN THE SECOND QUARTER WHEN COMPARED WITH THE FIRST QUARTER. THE REPORTED PERFORMANCE WAS BETTER THAN HAD PREVIOUSLY BEEN EXPECTED.

+LOOKING INTO THE THIRD QUARTER, MODERATE IMPROVEMENTS ARE EXPECTED. THE CURRENT DEGREE OF OPTIMISM IS LOWER THAN THAT HELD IN THE SAME QUARTER LAST YEAR, A SPOKESMAN FOR THE DEPARTMENT SAID.

WITHIN THE MANUFACTURING DIVISION, BOTH THE WATCHES AND CLOCKS+ AND FOOD, BEVERAGE, TOBACCO+ ŠECTORS (THE LATTER BEING IN ITS SEASONAL PEAK) WHICH HAD A HIGH SECOND QUARTER IN WHICH BUSINESS IMPROVED SUBSTANTIALLY WHEN COMPARED WITH THE PRECEDING QUARTER, EXPRESSED CONFIDENCE FOR THE THIRD QUARTER.

THE +PLASTICS+ AND +FABRICATED METAL PRODUCTS+ SECTORS ALSO EXPERIENCED A HIGH SECOND QUARTER. THEY ARE CONSERVATIVE WHEN PREDICTING PROSPECTS IN THE IMMEDIATE FUTURE.

ON THE OTHER HAND, THE ELECTRONICS+ AND +ELECTRICAL MACHINERY, APPLIANCES AND SUPPLIES+ SECTORS ARE OPTIMISTIC OF THE THIRD QUARTER AFTER HAVING ACHIEVED MODERATE IMPROVEMENTS IN THE PAST QUARTER.

THE +PRINTING.+ +WEARING APPAREL AND +MISCELLANEOUS MANUFACTURING INDUSTRIES+ SECTORS EXPECTED THEIR MODERATE PACES OF ADVANCES IN THE SECOND QUARTER TO CARRY FORWARD INTO THE FOLLOWING QUARTER,

FOR THE +CONSTRUCTION+ INDUSTRY, ITS PERFORMANCE IN THE SECOND QUARTER OUTRAN PREVIOUS EXPECTATIONS.

+EARLIER IT HAD PREDICTED A MARGINAL DETERIORATION, BUT NOW IT REPORTED A MARGINAL IMPROVEMENT. REGARDING EXPECTATIONS FOR THE THIRD QUARTER, THE BALANCE OF OPINIONS FOR THE INDUSTRY AS A WHOLE IS ON THE PESSIMISTIC SIDE, THE SPOKESMAN SAID.

FOR THE SERVICES SECTORS, THE +RESTAURANTS+ SECTOR EXPECTS CONSIDERABLE UPTURN TO COME AFTER PASSING THROUGH A SEASONALLY LOW SECOND QUARTER.

IN CONTRAST, THE HOTELS+ AND +TRANSPORTATION+ SECTORS, WHICH DID WELL IN THE SECOND QUARTER, ARE EXPECTING A LOW THIRD QUARTER.

THE +BANKS+ AND +WHOLESALE AND RETAIL TRADE+ SECTORS EXPERIENCED STABLE ADVANCES IN THE SECOND QUARTER AND EXPECT MODERATE IMPROVEMENTS IN THE THIRD QUARTER.

THE MISCELLANEOUS.....