XN000022-1992-08-13 — Page 7

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THURSDAY, AUGUST 13, 1992

CONTRARY TO THE GENERAL TREND OF AN IMPROVED BUSINESS SITUATION IN MOST MANUFACTURING INDUSTRIES, THE FOOD, BEVERAGE AND TOBACCO INDUSTRY HAD ONLY EXPERIENCED A STABLE BUSINESS SITUATION SECOND QUARTER OF 1992 COMPARED WITH THE PRECEDING QUARTER.

IN THE

THE BUSINESS EXPERIENCE OF MOST INDUSTRIES SURVEYED WAS COMPATIBLE WITH THEIR EARLIER EXPECTATION. THE EXPERIENCES OF THREE INDUSTRIES WERE, HOWEVER, DIFFERENT FROM WHAT HAD BEEN EXPECTED.

FIRMS IN THE FOOD, BEVERAGE AND TOBACCO INDUSTRY FOUND THE BUSINESS SITUATION IN THE SECOND QUARTER OF 1992 SIMILAR ΤΟ THE PRECEDING QUARTER, ALTHOUGH AN IMPROVEMENT HAD EARLIER BEEN EXPECTED.

THEY REPORTED INCREASED WORRIES ABOUT THE PROBLEMS OF HIGH WAGE RATES AND HIGH MATERIAL PRICES.

THE BUSINESS SITUATION IN THE TEXTILES INDUSTRY IMPROVED IN THE SECOND QUARTER OF 1992.

BUT THE IMPROVEMENT WAS NOT AS LARGE AS EXPECTED.

HAD ACTUALLY

ON THE OTHER HAND, THE WATCHES AND CLOCKS INDUSTRY, WHICH EARLIER EXPECTED THE BUSINESS SITUATION TO REMAIN THE SAME, EXPERIENCED AN IMPROVEMENT IN THE SECOND QUARTER OF 1992.

WHILE CAPACITY UTILISATION IN THIS INDUSTRY IMPROVED SECOND QUARTER OF 1992, THE PROBLEMS OF PRICE COMPETITION MATERIAL PRICES ALSO SUBSIDED IN THE QUARTER.

THIRD

IN THE AND HIGH

QUARTER OF EXCEPT THE BUSINESS

AS REGARDS THE BUSINESS PROSPECTS FOR THE 1992, FIRMS IN ALL INDIVIDUAL MANUFACTURING INDUSTRIES, WEARING APPAREL AND THE TEXTILES INDUSTRIES, ANTICIPATE THE SITUATION TO IMPROVE OVER THE SECOND QUARTER OF 1992.

IN THE CONSTRUCTION SECTOR, THE GENERAL BUSINESS REMAINED STABLE IN THE SECOND QUARTER OF 1992 COMPARED PRECEDING QUARTER.

SITUATION

THE

WITH

LOOKING AHEAD, FIRMS IN THE SECTOR EXPECT THE BUSINESS SITUATION IN THE THIRD QUARTER OF 1992 TO REMAIN SIMILAR, ALTHOUGH MANY ARE ENCOURAGED BY THE PROSPECTIVE BUSINESS OPPORTUNITIES FROM THE AIRPORT PROJECT.

FIRMS IN THE WHOLESALE, RETAIL AND IMPORT/EXPORT TRADES EXPERIENCED A SIMILAR BUSINESS SITUATION IN THE SECOND QUARTER OF 1992 AS COMPARED WITH THE PRECEDING QUARTER, ALTHOUGH AN IMPROVEMENT HAD EARLIER BEEN EXPECTED.

THE

THEY WERE FACED WITH A GROWING PROBLEM OF PRICE COMPETITION.

ON THE OTHER HAND, RESTAURANTS EXPERIENCED A DETERIORATION IN GENERAL BUSINESS SITUATION IN THE SECOND QUARTER OF 1992 AS THE SECOND QUARTER IS GENERALLY A CALM PERIOD FOR THE CATERING BUSINESS.

IN CONTRAST, BUSINESS SITUATION CONSIDERABLY IN THE SECOND QUARTER OF 1992.

FOR

HOTELS

IMPROVED

/REGARDING THE