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BUCHAREST (Romania), October 27 (SeeNews) - - Company managers in Romania expect a drop in construction activity in the next two months and a pick-up in manufacturing, retail and services, the national statistical office (INS) said on Friday.
The managers of construction companies expect a 24% drop in production volumes and a fall of 17% in the number of employees. Also, they forecast 16% growth in the prices of construction works during November and December, INS said in a monthly business sentiment survey.
Retail companies' managers expect economic activity to pick up by 7% in the following two months. The volume of orders in retail is expected to increase by 7%, while the number of employees is expected grow by 11%. The managers also expect prices to go up strongly, by 31% over the next two months.
Romania's retail sales grew 8.4% year-on-year in the first eight months of 2017, seasonally and working-day adjusted INS data shows.
Managers from the manufacturing sector expect an increase of 8% in production volumes in the next two months. Manufacturing of basic pharmaceutical products is expected to increase by 5%, while production of beverages is forecast to decrease strongly, by 24%. Regarding the number of employees, relative stability is forecast, while prices of industrial products are expected to rise by 13%.
Sales of services are expected to increase by 13% during the next two months. The number of employees and sales prices are expected to grow moderately, by 9% and 7%, respectively, according to the survey.
A total of 8,216 managers of Romanian-based companies from construction, manufacturing, retail, and services were interviewed in the survey.