The recent improvements in productivity and exports, though still modest and largely cyclical, may nevertheless suggest that a process of restructuring has begun. The restructuring of the industrial sector A survey of more than 4,000 firms carried out in recent months by researchers at the Bank provides initial indications that this is indeed happening.
This was most pronounced in the resources sector, which is not surprising given the level of demand and the record prices being paid for its output, but the strength was not confined to that sector.