Central Bank: Further redundancies in Romania's industry, despite growth expectations

The Romanian industrial sector will resort to further redundancies in November, similar to the construction sector. But the industrial companies have optimist expectations and believe production will increase and stocks will lower, the last conjuncture Central Bank (BNR) bulletin published by Romanian press agency NewsIn shows.

„The Industrial production ascending trajectory will continue in November, with the balance sheets expected to show an increase up to 17%. Nevertheless, construction works will see a volume contraction (conjuncture balance sheet -42%), an evolution associated with the climate conditions growing worse”, the survey carried out by the central bank shows.

At the same time, the industrial companies expect their stocks to drop in November, in contrast with the construction sector, where 53% of the companies consider that the insufficient demand contracts their activity, which together with the financial blocking lead to a -48% drop in the activity.

„In the construction department, the process of accumulation of finite products will continue in November as well”, the Central Bank report goes on to show.

In this context, the companies from the industry sector, but also from the construction sector estimate new redundancies in November. The only segments forecasting employment are IT and radio-TV gears.