earned in the three months to September 30 compared to the $363.97 million in the second quarter.

The gain represents a 3.4 percent rise in income for the three months compared to that earned by workers in the second quarter indicating an economy that's continuing to grow rapidly.

For the first nine months of the year workers earned $1.08 billion, a gain of about eight percent over the same period last year. Gains in employment income were registered in all sectors of the economy compared to third quarter last year. However, the most significant increases were recorded in the international business, and banking, insurance and real estate sectors.

Bermuda imported $165.52 million worth of goods in the third quarter, an increase of 5.8 percent over the same period last year.

Third quarter consumer spending in the local retail sector increased 6.2 percent year-over-year, with gross turnover estimated at $147.8 million according to Statistics Department.

In other figures released yesterday there were 2,331 local companies and 10,578 international companies registered in Bermuda at the end of September.

Local companies on register, which does not include unincorporated enterprises, declined by 53 from June 30, while the number of international companies rose by 376.

Spending on construction projects was estimated at $32.1 million during the third quarter, according to figures released yesterday by the Statistics Department.

As stated last week in The Royal Gazette the Statistics Department estimated that during the first nine months of the year $93.5 million worth of work was put in place by the construction industry.

During the first nine months $82.2 million worth of new projects were started.

The amount of income earned by those working in the construction sector increased 12.2 percent in the first half of 1998 to $44.7 million.

The figures were given out by Finance Minister Eugene Cox in a sneak preview.