The survey showed that the construction industry could face a tough time in the 12 months to come

MORE job losses are forecast across all sectors of the Island’s economy as 2010 progresses, according to the results of a survey of businesses.

Companies are forecasting reduced profits and a subsequent need to reduce costs. As a consequence, they predict further cuts in staff numbers.

But there was some good news in the Jersey business tendency survey, with finance companies remaining positive about the prospects for picking up new business. Finance houses also gave a positive response when asked to comment on business optimism and future business activity.

But generally, confidence at the end of 2009 was lower than when assessments were made three months earlier with the all-sector business activity indicator 15 percentage points lower.

The survey conducted by the States Statistics Unit was carried out in December and asked companies to comment on a variety of indicators. About half of businesses reported no change in their outlook compared with three months earlier.