April 2009
Commercial Development Activity
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Recession in commercial activity continued to ease in March.
- In March, just over 29% of commercial developers reported a fall in overall activity from a month earlier, against almost 14% that signalled a rise.
- The resultant net balance - the Total Commercial Development Index - rose to -15.5, from -20.4 in the previous month. Despite pointing to a steep reduction in activity, March's reading was the highest in just over one year.
- Commercial development in the private sector declined at a slightly slower rate than public sector activity. Rates of contraction were slower compared to February.
- In line with recent trends, lower levels of activity were recorded across all nine broad areas monitored by the survey.
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