Managers expecting sharp rise in prices in construction, retail trade over next three months (INS)

Romanian managers are expecting a sharp rise in prices in construction and retail trade, as well as relative stability of business in the manufacturing industry, retail trade and services, according to data published by the National Institute of Statistics (INS) on Thursday, agerpres reports.

In the business survey of October 2021, managers in the manufacturing industry expect for the next three months a relative stability of the production volume (short term balance percentage -5%). There should be a sharp increase in the manufacture of coke and refined petroleum products (+ 59%).

Regarding the number of employees, relative stability is estimated (-2%) in the entire manufacturing industry. Prices for industrial products are expected to increase in the next three months (+37%).

According to the October 2021 estimates, a moderate decrease in the production volume should be recorded in construction for the next three months (-12%). A moderate decrease in the number of employees (-8%) is also expected, while construction costs should increase sharply (+49%).

In the retail sector, managers see a trend of relative business stability for the next three months (+2%). The volume of orders filed with suppliers of goods by stores would increase moderately (+7%). Employers forecast an increase in the number of employees for the next three months (+19%). Business managers estimate an accentuated increase in retail prices (+44%).

According to the October 2021 estimates, demand for services (turnover) will see relative stability in the next three months (-1%). In the services sector, relative stability of the workforce size is estimated (+1%). According to the managers' opinion, selling and invoicing prices for services will tend to increase (+21%).

INS says that the short term balance reflected by the survey indicates the perception of business managers on the dynamics of a phenomenon that should not be confused with the rate of increase or decrease of any statistical indicator produced by the INS.

The short-term percentage balance is the difference between the percentage of managers who chose the positive version of the phenomenon and the percentage of those who indicated the negative version, as follows: up to ą 5% relative stability; ą 6% to ą 15% moderate increase or moderate decrease, respectively; ą 16% to ą 40% increase or decrease, respectively; over ą 40% sharp increase or decrease, respectively.