Sentiment in the latest Other Services by the Bureau for Economic Research surprised on the upside, with confidence up in the real estate subsector.
Business confidence in the Other Services sector has increased, with business volumes ticking up in the real estate subsector.
Business volumes and conditions also increased by large margins and are now above long-term average levels.“Unlike previous quarters, when confidence in some subsectors increased and in others dwindled, the increase in business confidence for the overall Other Services sector was driven by increases in all the subsectors, the mostIn the real estate subsector, confidence increased to a level close to the long-run average.
This level remains over the long-term average, and it is encouraging to see the subsector maintain its upbeat performance, considering that the country is moving into the off-season period.The business services subsector’s confidence ticked by five points, returning it to the long-term average level of 56.“Consistent with the increase in confidence, there were increases in both business conditions and business volumes.
Overall, the BER said the results were surprisingly upbeat, even if uncertainty over the economy’s fundamentals remains.
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