XN000022-1992-11-27 — Page 12

10

FRIDAY, NOVEMBER 27, 1992

AMONG

THE

END-USE CATEGORIES,

RETAINED

THE THIRD

AND MATERIALS

IMPORTS

OF

QUARTER, SEMI-

VARIOUS

IN THE FASTEST GROWTH CAPITAL GOODS RECORDED FOLLOWED BY THOSE OF CONSUMER GOODS, AND RAW MANUFACTURES.

DECLINES,

HAVING

THOSE OF FOODSTUFFS AND FUELS SHOWED SMALL RECORDED SIGNIFICANT INCREASES IN THE PRECEDING QUARTER.

A VISIBLE TRADE SURPLUS OF $2,140 MILLION, EQUIVALENT TO 1% THE VALUE OF IMPORTS, WAS RECORDED IN THE THIRD QUARTER OF 1992.

OF

VISIBLE TRADE

FOR THE FIRST NINE MONTHS OF 1992 COMBINED, A DEFICIT OF $24,333 MILLION, EQUIVALENT TO 4% OF THE VALUE OF WAS RECORDED.

IMPORTS,

ΤΟ ACCORDING

QUARTERLY THE PRELIMINARY ESTIMATE OF CONSTANT PRICE TERMS, PRIVATE CONSUMPTION EXPENDITURE, AS THE COMPONENT OF DOMESTIC DEMAND, GREW BY 8% IN REAL TERMS IN THE QUARTER OF 1992 OVER A YEAR EARLIER, FOLLOWING A 9% INCREASE FIRST QUARTER.

UNDERLYING THIS SIGNIFICANT GROWTH WAS A MARKED EXPENDITURE ON BOTH CONSUMER DURABLES AND NON-DURABLES.

GDP

IN

LARGEST SECOND IN THE

INCREASE IN

RATE THE SECOND IN THE FIRST

AS REGARDS GOVERNMENT CONSUMPTION EXPENDITURE, THE GROWTH

IN TERMS ON

BASIS WAS 12% IN REAL NATIONAL ACCOUNTS QUARTER OVER A YEAR EARLIER, FOLLOWING A 7% INCREASE QUARTER.

INVESTMENT, LOCAL

MEASURED IN TERMS OF GROSS

DOMESTIC

FIXED

TERMS

FOLLOWING A 5%

CAPITAL FORMATION, RECORDED A SIGNIFICANT GROWTH OF 11% IN REAL IN THE SECOND QUARTER OF 1992 OVER A YEAR EARLIER, INCREASE IN THE FIRST QUARTER.

THIS WAS

MAINLY

DUE TO A STRONG

GROWTH

MACHINERY AND EQUIPMENT, BY 23% IN REAL TERMS IN THE OVER A YEAR EARLIER.

ON

THE OTHER HAND,

EXPENDITURE ON BUILDING

IN

EXPENDITURE SECOND QUARTER

ON

AND

CONSTRUCTION

CONTINUED TO DECLINE, BY 5% IN REAL TERMS IN THE SECOND QUARTER OVER A YEAR EARLIER.

CONSTRUCTION ACTIVITY IN THE PRIVATE SECTOR REMAINED

THERE WAS A PICK-UP

NEVERTHELESS, SLUGGISH. CONSTRUCTION LATELY.

IN

GENERALLY

PUBLIC SECTOR

DOMESTIC DEMAND CONTINUED TO BE ROBUST IN THE THIRD QUARTER.

SHOWED A THIRD IN THE THREE

ON CONSUMPTION, RETAINED IMPORTS OF CONSUMER GOODS

THE IN FURTHER SHARP INCREASE, BY ABOUT 20% IN REAL TERMS QUARTER OVER A YEAR EARLIER, HAVING RECORDED AN 8% INCREASE SECOND QUARTER. THE VOLUME OF RETAIL SALES GREW BY 13% IN THE MONTHS ENDING AUGUST 1992 OVER THE SAME PERIOD LAST YEAR.

THESE STRONG INCREASES HAD SUPPORT FROM BOTH AND THE TOURIST SECTOR.

LOCAL

CONSUMERS

/ON INVESTMENT,

+