of the recession in the early part of the year.

The Quarterly Bulletin of Statistics for the second quarter of 1993 showed improvements in all areas, other than the construction industry which slipped slightly.

But Finance Minister the Hon. David Saul said the biggest boost came in the tourism industry which recorded strong improvements compared to 1992.

Visitors by air increased by 138,743, some 11.8 percent, compared to the first half of 1992 when the recession really hit Bermuda.

The Government Statistical Department report said: "There was an across-the-board increase in occupancy levels for all major types of commercial accommodations; resort hotels catered to over 10,000 more guests during the second quarter; while guest houses and housekeeping units reported increases in occupancy levels on the second quarter of last year.

"Visitor expenditure on accommodation, food and tourist goods and services was estimated at $156.3 million, 13.7 percent above the spending flow reached in the second quarter of 1992.'' Cruise ship visitors rose by almost a quarter with expenditure estimated at $15.2 million.

Dr. Saul said: "It is really heartening to see an increase on the tourism front which is very good. I think people were beginning to doubt the figures.'' But employment at hotels was down -- although employment income was up -- and despite $5 million worth of new projects starting during the quarter major building activity eased.

On a brighter note consumer spending increased with the purchase of motor vehicles particularly good. Food and liquor also rose.

Dr. Saul said: "It is clear from these figures that things are picking up on all fronts.

"It shows a definite improvement. We are certainly on the way out of the recession and these figures confirm that, even though the Opposition Leader Mr. Wade keeps saying we are still in recession.'' In international business, 256 new companies were registered in the period, a 56 percent increase on 1992. By the end of the period, there were 6,716 exempted companies, a decrease of some 41 on the previous period, but up on the second quarter of 1992.

Total incomes increased by $7.5 million to $273.2 million from $265.6 million in 1992 and were up by $41 million compared to the first quarter of 1993.