of the economic indicators in Government's Quarterly Bulletin on Statistics showed strengths, including overall Government revenue, the value of new construction projects, and an increase in the overall numbers of people employed.

There was also a 1.8 percent increase in the new registrations of exempted companies, 577, bringing the total to 10,221. However, fewer new local companies, exempted partnerships, and non-resident companies registered in the same period compared to 1998. New home construction in Q1 and Q2 fell almost 15 percent with 104 units completed by the second quarter of this year. Last year 122 were completed by the same time. And in the second quarter April-June, there were 39 new dwelling units -- mostly 1 or 3 or more bedrooms -- to the housing stock, 17 fewer than in Q2 1998.

Second quarter air arrivals fell 1.4 percent year-over-year to 120, 563 people, and occupancies were lower for resort hotels, small hotels, cottages and clubs. But the total expenditure for air visitors was up on the same time last year by 2.2 percent.

There was a slight increase -- under one percent -- in the number of hotel workers at the end of the second quarter of 1999. But numbers were down in cottage colonies and housekeeping units.

Resident purchases abroad increased slightly by 1.5 percent to $13,708 million and the total number of trips overseas increased 3.2 percent to 55,276 for the first half of this year. Q2 expenditures on household furniture, furnishings and appliances declined as much as 48.8 percent, while spending on clothing rose 12.4 percent.

Air visitors spent $219 million more than in the same period last year, an increase of just under three percent.

Government revenue was up $15.2 million on the same period last year to $286.2 million for the first half of 1999, an increase of five percent.

Government revenue up This is also a rise of 16.14 percent on the same period in 1996.

The six-month rise came from a variety of sources including a 13.4 percent increase in revenue from Customs duty worth $87.1 million, an increase of $11.7 million on last year.

There was also a 3.9 percent increase in cash to $72.4 million from revenue tax or $2.8 million on the same six months last year.

Income from stamp duty increased by 22 percent or $2.6 million to $11.8 million and revenue from international companies increased by more than ten percent, or $3.2 million, and from hotel occupancy income rose by 6.4 percent, or $300,000.

Cash from land tax, however, dropped by nearly $1 million, or 6.5 percent to $13.1 million and revenue from telecommunications tax dropped by $200,000 -- 6.7 percent to $2.8 million.

The volume of revenue from passenger tax dropped $200,000 or 2.7 percent to $7.6 million.

Money from vehicle licences was the same on the six-month period last year at $9 million.

The estimated final value of new construction projects was $73 million, an increase of 7.6 percent on the same period last year, or $5.5 million.

Of work carried out during the same six months, $72.7 million worth of work was carried out in both the private and public sector, compared to $61.4 million in the first half of 1998 -- an annual increase of 15.6 percent.

While last year no money was spent on work on hotels or guest houses, this year $3.6 million was spent.

But spending on schools, hospitals and community centres was down 43 percent from $19.1 million to $8.4 million.

Commercial construction dominated activity in the building industry, accounting for roughly 49.5 percent of the work completed.

The main centres of building activity were continued work carried on at the Bacardi International Building, the Pitts Bay Development, the Exel House, LOM Office Building and the ACE Insurance Development.

Employment income increased by 7.5 percent from the same period last year to finish at $760,550.

Central Government Revenue by Source Q1 & Q2 1999 Customs Duty: $87.1 million Payroll Tax: $72.4 million International Co.: $31.9 million Hotel Occupancy Tax: $4.7 million Land Tax: $13.1 million Vehicle Licences: $9 million Passenger Tax: $7.6 million Stamp Duty: $11.8 million Telecoms Tax: $2.8 million All Other: $45.8 million TOTAL: $286.2 million/(Q1&Q2 1998: $271 million) BUSINESS BUC