BUSINESS

Industrial orders and turnover drop in February

The Romanian industry is feeling the crisis’s effects in full. The data published by the National Statistics Institute (INS) yesterday shows that in the first two months of this year both the new orders and the turnover have registered steep drops compared to the levels registered in the same period in 2008. Both the external and the internal markets are affected. In the January 1 – February 28 period the industrial turnover dropped by 19.7 per cent because of the drops registered in the processing industry (a drop of over 20 per cent) and in the extractive industry (-8.3 per cent). The drop in turnover spared none of the great industrial categories. The energy industry tops that table with a drop of over 33 per cent, being followed by the intermediary goods industry where the turnover dropped by almost 30 per cent. The durable goods industry registered a drop of 24 per cent. During the same time, the capital goods industry and the consumer goods industry registered a drop of 8 per cent and 7 per cent respectively. Nevertheless, compared to January, in February the overall industrial turnover grew by 8.1 per cent, a growth backed by the processing industry (+9.5 per cent). However, a drop of 11.7 per cent was registered in the extractive industry.

Romanian industry does not fare better when it comes to new orders either

The INS data shows that in the first two months of 2009 the new industrial orders have dropped by an overall 26 per cent compared to the same period in 2008. The drop was caused by the intermediary goods industry (with drops of more than 48 per cent) and by the durable goods industry (with drops of close to 29 per cent). The orders in the consumer goods industry dropped by 10 per cent, while the ones in the capital goods industry grew by 1.5 per cent. Overall, the new industrial orders in February dropped by 1 per cent compared to the level registered in January. The intermediary goods segment is the only one that registered drops (-10.8 per cent), with all the other sectors registering growth.

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