Responses to the Central Bank of Malta’s latest business perceptions survey, conducted between April and May, show that after three consecutive quarterly declines, business confidence has recovered.
With the majority of firms expecting an improvement in the performance of the Maltese economy, this renewed confidence was mainly driven by export-oriented sectors, which reported higher turnover during the first quarter of 2004, according to the Bank.
While there was some improvement in the financial services and construction sectors, activity in the domestically-oriented sectors remained below normal, with a deterioration reported by the manufacturing and distributive trades.
Looking ahead, export-oriented firms projected substantial gains during the second quarter of 2004, whereas firms catering for the domestic market tended to be more cautious, the Bank observed.
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