XN000022-1982-08-23 — Page 3

MONDAY, AUGUST 23, 1982

QUARTERLY BUSINESS SURVEY HELD IN JULY 1982

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

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ABOUT 800 FIRMS FROM VARIOUS INDUSTRIES AND BUSINESSES, FORMING A CROSS-SECTION OF THE ECONOMIC COMMUNITY, WERE ASKED ABOUT THE IR BUSINESS EXPERIENCE IN THE SECOND QUARTER OF 1982, AND THEIR BUSINESS EXPECTATIONS FOR THE THIRD QUARTER OF 1982.

RESULTS OF THE SURVEY INDICATE THAT FIRMS IN THE MANUFACTURING SECTOR EXPERIENCED NO IMPROVEMENT IN BUSINESS IN THE SECOND QUARTER OF 1982, CONTRARY TO THEIR EARLIER EXPECTATION OF A MILD UPTURN AS INDICATED IN THE PREVIOUS ROUND OF THE SURVEY.

FIRMS IN THE CONSTRUCTION SECTOR DID NOT EXPERIENCE IMPROVEMENT IN BUSINESS IN THE SECOND QUARTER AS THEY HAD EXPECTED IN THE PREVIOUS SURVEY.

FIRMS IN THE WHOLESALE AND RETAIL TRADE, RESTAURANTS AND HOTELS SECTOR EXPERIENCED A MORE SUBSTANTIAL DETERIORATION IN BUSINESS DURING THE SECOND QUARTER THAN EXPECTED.

HOWEVER, IN ACCORDANCE WITH PREVIOUS EXPECTATIONS, FIRMS IN THE OTHER SERVICES+ SECTOR SUSTAINED A SIMILAR LEVEL OF BUSINESS PERFORMANCE AS THAT IN THE FIRST QUARTER.

COMPARED WITH THE EXPECTATIONS OF FIRMS IN THE CORRESPONDING PERIOD OF LAST YEAR, THE CURRENT STATE OF BUSINESS CONFIDENCE APPEARS TO BE RATHER WEAK ACROSS ALL ECONOMIC SECTORS.

ACCORDING TO THE SURVEY, MANUFACTURING AND CONSTRUCTION FIRMS DO NOT EXPECT ANY NOTICEABLE IMPROVEMENT IN BUSINESS IN THE THIRD QUARTER OVER THE LEVEL OF BUSINESS ACTIVITY PREVAILING IN THE PAST TWO QUARTERS. FIRMS IN THE WHOLESALE AND RETAIL TRADE, RESTAURANTS AND HOTELS SECTOR ALSO ANTICIPATE VERY LITTLE IMPROVEMENT IN THE THIRD QUARTER.

HOWEVER, SOME IMPROVEMENT IN BUSINESS IS PREDICTED BY FIRMS

IN THE +OTHER SERVICES+ SECTOR IN THE THIRD QUARTER.

ACCORDING TO THE RESPONDENTS IN THE MANUFACTURING INDUSTRIES, THE FOOD, BEVERAGE AND TOBACCO INDUSTRY ACHIEVED SOME IMPROVEMENT IN BUSINESS IN THE SECOND QUARTER AND ANTICIPATES FURTHER IMPROVEMENT IN THE THIRD QUARTER.

THE PLASTICS INDUSTRY ALSO EXPERIENCED AN IMPROVEMENT IN BUSINESS AND EXPECTS A SIMILAR LEVEL OF BUSINESS TO BE SUSTAINED IN THE THIRD QUARTER.

/IN CONTRAST,