The Central Bank’s quarterly survey of the perceptions of business operators in the service and construction industries has remained unchanged from previous quarters and is generally positive.

This was reported in the latest issue of the Central Bank’s Quarterly Review published early last week.

The survey’s fieldwork was carried out in November and December.

While more than half the respondents reported unchanged turnover levels, the remainder reported a net increase in sales, though the rise was on a smaller scale than in recent periods.

Over half the participants recorded unchanged profits, selling prices and costs, while the remainder indicated mild upward cost pressures and lower selling prices.

The overall outlook for the first quarter of 2008 was generally positive, the Central Bank reported. Issues such as turnover, profits and employment remained mainly positive. In addition, despite evidence of continuing cost pressure, the majority projected stable prices for the first three months of 2008.

They also expected an expansion of their workforce.

On a longer-term basis, around two-thirds of the participants intended to increase their investment while almost none were considering a reduction.

Meanwhile, a European Commission survey of industry, also carried by the Quarterly Review, showed that the seasonally adjusted indicator of industrial confidence moved into positive territory, rising to six in September.

Data by main industrial groupings indicate that the improved sentiment in the intermediate goods segment was mainly due to a drawdown of stocks of finished goods although, to a lesser extent, a pick-up in order books also contributed.

In contrast, sentiment deteriorated in the investment and consumer goods categories on account of declining production expectations, but remained in positive territory.