21 Aug 2007

Business gross revenues in CNMI drops

10:32 am on 21 August 2007

Business gross revenues in Commonwealth of Northern Marianas reached only $424-point- 6 million US dollars in the second quarter of 2007, a 5.3-percent drop from the same period last year.

The Saipan Tribune reports the April to June 2007 figure continues the downward trend in business activity that started last year.

It is also a decline from the previous quarter, when private sector earnings totaled US$454-point-4 million.

Governor Benigno Fitial said the CNMI's economic situation, caused by the declining tourism and garment industries, was not expected to improve soon.