According to findings of the Business Trends Survey conducted by the Statistical Service on business services providers, 37% of the enterprises interviewed reported an increase in turnover in the second quarter of 2001 compared to the year’s first quarter. The majority of businesses, or 55% did not register changes, while 8% recorded a decline. The year’s second quarter saw a rise in demand according to 24% of the respondents, and a decline according to 10%.

About 17% of the enterprises proceeded to hire more employees, while cut backs on staff were effected by 7%. Increases in prices were administered by 7% of the businesses, while reductions were effected by 6%. Up to 26% of the enterprises expressed optimism regarding their activity levels in the months to come, while 2% anticipate deterioration.

Out of the 57% of businesses that identified factors that that hindered their operations, 26% quoted supply problems, mainly attributed due to the lack of professional staff and small profit margins; 8% quoted insufficient demand problems, mainly attributed to domestic competition, while 23% referred to both supply and demand problems.