SEUREI
-
9
(5)
There are three useful indicators of recent performance, although it is not possible to distinguish the effect of political uncertainty from that of the cyclical downturn in the property market:
(a) Private sector expenditure on building and construction:
At current
Growth rate
market prices in money terms
Growth rate in real terms
($Mn)
(%)
(%)
1981
1982
10,078
16.8
4.8
10,882
8.0
-0.7
1983*
11,520
5.9
-2.0
* forecasts
#
(b)
Consents to commence work provide an indication of private developers' building intentions.
Usable floor area of building plans with consent to commence work
(c)
'000m
1981
Annual
4147
1982
Q1
806
% change on same quarter last year
40.2 -33.7
Q2
1 142
18.6
Q3
718
-19.1
Q4
479
-55.6
Annual
3 145
-24.2
1983
Q1
Q2
361 524
-55.2
-54.1
Loans and advances outstanding to the building and construction industry ($49,000 million at the end of June 1983, representing 25% of total loans and advances) dropped by 0.5% during the first half of
this year, compared with a growth rate of 14.2% during the
second half of 1982.
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/(6)
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