Business survey shows pessimism

A survey of business trends by the GRTU has shown that out of a sample of 290 respondents, 44 percent reported a drop in profit in excess of 30 percent in the past six months.

Twenty-six percent said their profit increased by over 30 percent and the remainder said the situation was unchanged.

The survey also showed that 38 percent of respondents say turnover growth, but 36 percent said tunover was down by over 30 percent.

Marcel Mizzi, GRTU vice president, said it was clear from feedback by respondents that there was growing concern over rising prices, whch stemmed from the fuel price hike and government bureacracy.

The survey showed that 47 percent of respondents expect no change for the rest of the year, 29 percent expect a deterioration and 24 percent expect an improvement.