BRIGHTER OUTLOOK

Hokitika Guardian, 4 January 1933, Page 7

BRIGHTER OUTLOOK

A USTK ALI AN INDUSTRIES,

EVIDENCES OF RECOVERY,

SYDNEY, December 22,

, The full story of the progress toward recovery of Australiaiy industries will E l ' told in figures that are now being Compiled by the Commonwealth Bureau of Statistics, and which will be ready Ipv the end of the month. It looks as though their publication will give Australia a, much brighter outlook for the new year. A preliminary survey by the Government Statistician reveals that while seasonable demands have meant a temporary increase in the number of people employed, the greater part of the increase lias been due to an improvement in conditions genera lly. Tli is improvement became noticeable first about four months ago, and the trend since then lias been upward. According to the evidence of the official figures the improvement should go on.

The statistician' states that the recovery is especially apparent in New South Wales, Victoria and South Australia. The best evidence is the New South Wales index of factory employment, which, in September, showed an improvement of 11 per cent over the low point of June. The index in September was higher than it had been since June, 1930, and partial returns for October indicated a further improvement, Victorian trade union returns for November showed a decided improvement in the food industries, and there were also some indications of substantial improvements in the building trade. There was a slight improvement in textiles and clothing, and no falling away in any group. In South Australia the improvement seemed to be general, and there again the htst sign was the increase in thcnumber of people employed in the factories.

According to the official statement the general impression of an appreciable improvement in employment is supported by general financial and trading indications, such dig an increase in the price of stocks, the upward trend of bank advances, and the prospects of an abundant harvest. Particularly noticeable was the sustained increase in the volume of imports. That was not so much because it was evidence of higher purchasing power as because the increase in imports was very large in goods required for production, and so promised further activity in general industrial actitvity.

Official circles are said to be jubilant at the good news contained' 1 in this special report. It is considered that evidence from all sources justifies very high hopes that further tax reductionwill be possible within a few monthsThe general financial and trading indicators all point to an upward trend'. In truth, it may be a. very happy new year for Australia. Anyway, a little optimism in official circles will go a long way toward achieving, that.