Romanian managers expect all-out sharp business decline for next three months

Romanian managers are expecting a sharp decline in business in all sectors of the economy for the next three months, a dip in the number of employees in all sectors of the economy and an increase in retail prices, according to a survey released by the National Institute of Statistics (INS) on Tuesday.

In the business survey of April 2020, the managers in the manufacturing industry expect for the next three months a sharp decrease in production volume, short-term balance percentage -70 percent.

“Among the activities that will witness the most significant decreases, there are the manufacture of coke oven products and products obtained from crude oil processing (-97 percent) and the manufacture of motor vehicles, trailers and semi-trailers (-91 percent). The manufacture of basic pharmaceutical products and pharmaceutical preparations should see relative stability (-4 percent). Regarding the number of employees, a decrease is to be expected of 40 percent overall in the manufacturing industry. Industrial prices should record relative stability over the next three months (0 percent),” reads the release.

According to the April 2020 estimates, the construction business should also undergo a sharp decrease in production volume for the next three months (-57 percent). Managers estimate the decrease in the number of employees at -40 percent.

As far as prices of construction works are concerned, a moderate decrease is to be expected (-10 percent).

In the retail trade sector, the managers are bracing for decreases in activity (-58 percent). The volume of business orders to suppliers of goods should also be down (-35 percent).

Employers forecast a decrease in the number of employees for the next three months (-25 percent). Retail prices should also increase (+16 percent).

Via Agerpres