This can already be seen from the fact that business confidence has deteriorated and industrial production growth has moderated over recent months. BIS Review 34/2001  1  Nevertheless, growth in domestic demand is expected to remain robust. Consumer confidence has remained high in recent months and, despite some decline, it is still around the cyclical peaks seen in 1998.
We know that at present we cannot grow at a rate much in excess of 3 per cent without hitting against electricity supply constraints. We are also aware that certain investment projects do not get off the ground because of lack of certainty of electricity supply.