XN000022-1982-05-21 — Page 5

FRIDAY, MAY 21, 1982

QUARTERLY BUSINESS SURVEY HELD IN APRIL

***

THE CENSUS AND STATISTICS DEPARTMENT TODAY RELEASED THE RESULTS OF THE QUARTERLY BUSINESS SURVEY CONDUCTED IN APRIL 1982.

ABOUT 800 FIRMS FROM VARIOUS INDUSTRIES AND BUSINESSES, FORMING A CROSS-SECTION OF THE ECONOMIC COMMUNITY, WERE ASKED ABOUT THEIR BUSINESS EXPERIENCES IN THE FIRST QUARTER OF THE YEAR, AND THEIR BUSINESS EXPECTATIONS FOR THE SECOND QUARTER.

RESULTS OF THE SURVEY INDICATE THAT THE MANUFACTURING SECTOR EXPERIENCED A LOW LEVEL OF ACTIVITY IN THE FIRST QUARTER. THE DETERIORATION IN BUSINESS IN THE FIRST QUARTER OF 1982 OVER THE FOURTH QUARTER OF 1981 WAS MORE MARKED THAN IN THE CORRESPONDING PERIODS OF PREVIOUS YEARS. THIS DETERIORATION HAD ALREADY BEEN FORESEEN BY RESPONDENTS IN THE LAST ROUND OF THE SURVEY.

THE 'WHOLESALE AND RETAIL TRADE, RESTAURANTS AND HOTELS' SECTOR ALSO EXPERIENCED A DECLINE IN BUSINESS, DUE MAINLY TO SEASONAL FACTORS. IN CONTRAST, BUSINESS EXPERIENCE IN THE OTHER SERVICES' SECTOR WAS FAVOURABLE AND IMPROVEMENTS WERE REPORTED BY RESPONDENTS FROM VARIOUS SERVICES GROUPS. AS REGARDS THE 'CONSTRUCTION' SECTOR, THE BALANCE OF OPINIONS INDICATES THAT THE BUSINESS SITUATION EXPERIENCED BY FIRMS IN THE FIRST QUARTER WAS SIMILAR TO THAT IN THE FOURTH QUARTER OF 1981.

ACCORDING TO THE RESPONDENTS, THE GENERAL BUSINESS SITUATION FOR THE SECOND QUARTER OF 1982 IS EXPECTED TO SHOW MILD IMPROVEMENTS FOR THE MANUFACTURING' AND 'CONSTRUCTION' SECTORS.

HOWEVER, FIRMS IN THE WHOLESALE AND RETAIL TRADE, RESTAURANTS AND HOTELS' SECTOR, WITH THE EXCEPTION OF HOTELS', EXPECT THE DECLINE IN BUSINESS IN THE FIRST QUARTER TO CONTINUE INTO THE SECOND QUARTER. FIRMS IN THE BANKING BUSINESS EXPERIENCED A FAVOURABLE BUSINESS SITUATION IN THE FIRST QUARTER AND EXPECT THIS TO BE MAINTAINED IN THE SECOND QUARTER.

WHILE FIRMS IN THE OTHER SERVICES' SECTOR ANTICIPATE THAT FAVOURABLE BUSINESS PROSPECTS WILL BE SUSTAINED, FIRMS IN THE 'TRANSPORTATION' BUSINESS PREDICT SOME DETERIORATION FOR THE SECOND QUARTER.

AS REGARDS INDIVIDUAL INDUSTRIES, ALL MANUFACTURING INDUSTRIES WITHIN THE MANUFACTURING' SECTOR EXPERIENCED DETERIORATIONS IN BUSINESS IN THE FIRST QUARTER.

THE DECLINE IN BUSINESS WAS MORE SIGNIFICANT IN THE CASE OF THE WEARING APPAREL, TEXTILES, PLASTICS, ELECTRONICS AND WATCHES AND CLOCKS INDUSTRIES.

FIRMS IN THE FOOD, BEVERAGE AND TOBACCO AND PLASTIC INDUSTRIES, WHICH REPORTED DETERIORATIONS IN BUSINESS IN THE FIRST QUARTER, EXPECT A SIGNIFICANT UPTURN IN BUSINESS IN THE SECOND QUARTER.

/SOME RECOVERY