What Is A Eso Report

Economy on the up, says ESO

(CNS): Although many local business owners report still feeling the economic pinch, according to the latest statistics from the Economics and Statistics Office (ESO), the Cayman Islands’ economy recorded real growth in the first quarter of the 2011 calendar year. The growth achieved in the January to March quarter of 2011 on an annualized basis was 1.2% when compared to the same quarter in 2010. The 2011 first quarter growth of 1.2% also exceeds the 0.9% growth estimated for the entire 2011 calendar year. According to government officials, there were several positive results that contributed to the growth in the economy, such as company registrations and the increase in air arrivals.

The premier, who is also minister for finance, said he was “upbeat about the results”, which were published Friday, and was positive about the country’s economic future.

“I, along with the Government, am very upbeat with respect to the future performance of the economy – which is based not only on positive results achieved in the first quarter of 2011 but also on the partnerships and initiatives that the Government has forged with the private sector,” Bush stated, but did not detail the partnerships and initiatives he referred to.  “We are encouraged by the 2011 first quarter results and by the islands’ bright future prospects,” he added.

The report by the ESO states that new company registrations increased in the first quarter by 11.9%, air arrivals grew by 6.8%, cruise ship passengers increased by 8.2%, and the number of property transfers increased by 20.3% – which complemented a 271.2% increase in the value of properties transferred in the quarter that amounted to $253.9 million.

However, there were still several areas of the economy in decline. Building permits fell by 19.4% to settle at 179, valued at $61.1 million, the lowest level in five years. This is also the second straight year of decline. Merchandise imports fell by 1.6% to register at $169.2 million, but this was a lower decline than the 5.7% fall in the same quarter last year. Work permits also continued the decline. Following the drop of 13.6% last year, permits fell by a further 10.6% and there are now around 19,877 people on work permits.

Broad liquidity or money supply contracted by 7.6% due to reductions in both foreign currency deposits held by residents and CI dollar-denominated money.  The weighted average lending rate rose to 7.4% from 6.4%, although the prime lending rate remained stable at 3.25%. Domestic credit expanded by 2% as credit to the public sector increased by 32.

ESO/Fission Patterson Lake South JV reports high grade boulders up ...

” We are taking advantage of two additional tools in the search for the source of the uranium, the first is the general relationship of the distance of such uranium boulder fields from source indicated in similar glaciated areas such as the Cluff Lake mine. We also found in earlier studies there that the dimensions of the boulder fields and the uranium grades appear to reflect the size and grade of the original source(s). The second tool has been the use of radon gas surveys. Radon is a radioactive gas, only produced by the natural decay of uranium, that will diffuse through permeable rocks and soils to the surface above. This is the closest to a direct measurement of a buried uranium target that we have. Radon is very soluble in water and movement of an aquifer over the origin of the radon can displace it from the source area further than the vertical flux rates in unsaturated soils.

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