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INS: Construction activity will decrease by approx. 11%

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The National Institute of Statistics has published forecasts regarding economic trends until the end of 2023 for the main economic groups. Here are these forecasts for the main economic sectors:

Manufacturing Industry: In the October 2023 business survey, managers in the manufacturing industry anticipate relative stability in the volume of production for the next three months, with a conjunctural balance of +4%. Regarding the number of employees, relative stability is estimated, with a conjunctural balance of -2%. Price growth for industrial products is forecasted for the next three months, with a conjunctural balance of +16%.

Construction: According to the estimates in October 2023, a moderate decline in the volume of production is expected in the construction sector for the next three months, with a conjunctural balance of -11%. Managers anticipate a moderate decrease in the number of employees, with a conjunctural balance of -6%. As for the prices of construction works, an increase is anticipated, with a conjunctural balance of +31%.

Retail Trade: In the retail trade sector, managers have estimated a trend of moderate economic activity growth for the next three months, with a conjunctural balance of +13%. The volume of orders placed with suppliers of goods by commercial units is expected to experience moderate growth.

Employment: Employers forecast an increase in the number of employees for the next three months, with a conjunctural balance of +18%. Commercial company managers estimate an increase in retail selling prices, with a conjunctural balance of +31%.

Services: According to estimates in October 2023, the demand for services (business turnover) will register relative stability in the next three months, with a conjunctural balance of +1%. Relative stability is estimated for the number of employees, with a conjunctural balance of -1%. According to managers' opinions, the selling or billing prices of services will tend to experience moderate growth, with a conjunctural balance of +12%.

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