XN000022-1981-11-22 — Page 6

SUNDAY, NOVEMBER 22, 1981

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REPORT ON QUARTERLY BUSINESS SURVEY

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THE CENSUS AND STATISTICS DEPARTMENT TODAY RELEASED THE RESULTS OF THE QUARTERLY BUSINESS SURVEY CONDUCTED IN OCTOBER 1981.

ABOUT 800 FIRMS FROM VARIOUS INDUSTRIES AND BUSINESSES, FORMING A CROSS-SECTION OF THE ECONOMIC COMMUNITY, WERE ASKED ABOUT THEIR BUSINESS EXPERIENCE IN THE 3RD QUARTER OF 1981, AND THEIR BUSINESS EXPECTATIONS FOR THE 4TH QUARTER OF 1981.

THE RESULTS OF THE SURVEY SHOW THAT IN GENERAL, BUSINESS PERFORMANCE IN THE 3RD QUARTER OF 1981 HAD IMPROVED OVER THE 2ND QUARTER. THIS IS CONSISTENT WITH EXPECTATIONS RECORDED IN THE 2ND QUARTER SURVEY.

EXPECTATION FOR THE 4TH QUARTER IN GENERAL POINTS TO FURTHER IMPROVEMENTS IN THE LEVEL OF BUSINESS COMPARED WITH THE 3RD QUARTER, BUT MAINLY BECAUSE OF THE SEASONAL NATURE OF THE TRADE INVOLVED, SUCH EXPECTATION VARIES BETWEEN RESPONDENTS IN DIFFERENT SECTORS OF THE ECONOMY.

WHILE THOSE IN THE MANUFACTURING SECTOR EXPECT THE SEASONALLY HIGH LEVEL OF BUSINESS EXPERIENCED IN THE 3RD QUARTER TO BE MAINTAINED INTO THE 4TH QUARTER, THOSE IN THE SERVICES SECTORS EXPECT FURTHER IMPROVEMENT. RESPONDENTS IN THE CONSTRUCTION SECTOR EXPECT SOME SMALL IMPROVEMENT IN THEIR GENERAL BUSINESS SITUATION IN THE 4TH QUARTER, COMPARED WITH THE 3RD QUARTER.

WITHIN THE MANUFACTURING SECTOR, SIGNIFICANT IMPROVEMENT IN BUSINESS PERFORMANCE WAS EXPERIENCED IN THE 3RD QUARTER IN ALMOST ALL INDUSTRIES, WITH THE EXCEPTIONS OF THE 'FABRICATED METAL PRODUCTS AND WATCHES AND CLOCKS' INDUSTRIES.

THE DETERIORATION IN BUSINESS EXPERIENCED BY RESPONDENTS IN THESE TWO INDUSTRIES WAS WORSE THAN HAD BEEN EXPECTED IN THE PREVIOUS SURVEY DONE IN JULY. BY CONTRAST, WHILE RESPONDENTS IN THE 'TEXTILES' INDUSTRY HAD EXPECTED A DETERIORATION AN IMPROVEMENT IN BUSINESS WAS RECORDED IN THE 3RD QUARTER.

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RESPONDENTS IN SUCH MAJOR MANUFACTURING INDUSTRIES AS THE "WEARING APPAREL' "WATCHES AND CLOCKS' 'ELECTRONICS' AND "MISCELLANEOUS MANUFACTURING INDUSTRIES EXPECT THEIR LEVEL OF BUSINESS ATTAINED IN THE 3RD QUARTER TO BE MAINTAINED INTO THE 4TH QUARTER.

RESPONDENTS FROM OTHER MANUFACTURING INDUSTRIES, HOWEVER, EXPECT A DECREASE IN THEIR LEVEL OF BUSINESS WHICH OBVIOUSLY CONFORMS WITH THE USUAL SEASONAL PATTERN. IN FACT, WHEN COMPARED WITH THE MORE SIGNIFICANT DETERIORATION IN BUSINESS EXPECTED BY RESPONDENTS AT THE SAME TIME LAST YEAR, IT APPEARS THAT THERE MAY HAVE BEEN SOME IMPROVEMENT IN THE UNDERLYING BUSINESS SITUATION.

/FIRMS IN THE