Romania's Business Sentiment Turns Mostly Negative in November

BUCHAREST (Romania), November 28 (SeeNews) - Romanian managers have turned mostly pessimistic about the performance of the country’s economy in the three months through January 2009, having some optimistic expectations only for the services sector, the country’s statistics board, INS, said on Friday.

According to the previous INS survey conducted in October, managers were mostly positive about the country's economic development in the three months through December.

Managers in the industrial sector expect a decrease in output amid the global financial crisis and economic slowdown coupled with massive job cuts, while prices og their output are seen continuously rising.

Managers of construction companies project that output and employment in the sector will fall due to the traditional winter lull, whereas property prices are expected to increase.

In the retail sector the growth of the sales’ volume is expected to slow down sharply. Managers anticipate job cuts and forecast smaller businesses will go bankrupt, unable to compete with expanding hypermarket networks. Prices are therefore expected to rise in the three months through January.

In the services sector, however, demand is expected to rise slightly. Prices are seen remaining stable but the number of employees is expected to decrease.

For its November survey Romania's statistics board interviewed managers in a total of 7,843 companies in the four sectors.

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