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October 23, 2021

Managers predict slight commerce growth, INS report

Trade company managers estimate an August-October moderate growth in commerce, and stability for the industry, construction and service sectors, a relatively stable number of employees and light price rises, compared to previous quarter, according to an inquiry by the National Institute of Statistics (INS). Manufacturing industry managers forecast relatively stable production volume (conjectural balance +3 pc) and employee number (conjectural balance -1 pc). Industrial product prices will see a small rise in the next three months (conjectural balance +9 pc).

Relative production volume stability in the construction sector  (conjectural balance +1 pc) contract and order inventory (conjectural balance -3 pc), employee number (conjectural trade -4 pc). Construction work prices will go slightly up (conjectural balance +10 pc). Retail trade managers estimate moderate economic growth in the next three months (conjectural balance +7 pc), overall sales volume (conjectural balance +6 pc). According to August estimates, service demand (business turnover) will be relatively stable (conjectural balance -5 pc).

Also, employee number is expected to moderately decline, while sale prices and service invoices will rise slightly.

The INS report shows the number of residential construction authorization during the first seven months of this year going down 5.3 pc from year-on-year, to 22,822. Sharp declines registered the South Muntenia development region (-235 authorizations), while the North-Western, Bucharest-Ilfov and the South-East region posted increases of 259, 130 and 59 authorizations. A number of 3,884 residential building authorizations in July, down 6.7 pc from June and 95 compared to year-on-year. Of all the authorizations released, 66.5 pc were for rural constructions.

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