March 2008 Quarterly Economic Report Released

"The QER compiles all available economic indicators as at end of March 2008 and shows their percentage change since the same quarter in 2007."

The QER compiles all available economic indicators as at end of March 2008 and shows their percentage change since the same quarter in 2007. The significant changes are as follows:

Imports

Total value of imports rose by 11.0% compared to a year ago.


Tourism

Air arrivals grew by 9.0% while cruise passengers fell by 14.3%


Financial Services

Increases recorded for mutual funds (13.6%), new companies (16.7%), stock exchange listings (37.8%) although bank and trust companies declined by 1.8%;


Real Estate & Construction

Rebound in the real estate market as the value and number of transferred properties grew by 24.6% and 26.4% respectively;



Building permits fell by 29.5% to settle at $76.5 million and


Money & Banking

Growth in credit to businesses by 7.0% and to households by 18.8%.
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