Managers forecast moderate growth in manufacturing, services

Managers are forecasting a moderate growth of activity in the manufacturing and services sector between September-November 2016, as well as a drop in prices in retail, a study by the National Institute of Statistics (INS) shows.

In the manufacturing industry, managers forecast for the upcoming three months a moderate growth of production volume (short-term balance +14). The production of basic pharmaceutical products and pharmaceutical preparations, will record a significant growth trend (short-term balance +38), while the productivity of tobacco products will decrease (short-term balance – 36 percent).

The survey forecasts that the prices of industrial products will remain stable in the next three months (short-term balance +1 percent). The number of employees will remain stable, with the short-term balance forecasted at + 3 percent.

In the constructions sector, the volume of activity will record a moderate decrease (short-term balance – 6 percent). Managers are forecasting a relative stability of the number of employees (short-term balance – 4 percent). The costs of construction works will remain stable (short-term balance 0 percent).

In the retail sector, managers forecast for the upcoming three months a downward trend of economic activity (short-term balance – 26 percent). The volume of orders to suppliers of goods by companies will record a decrease (short-term balance 17 percent).In this sector, employers are forecasting a moderate decrease in the number of employees (short-term balance – 14 percent). For the upcoming period, managers are forecasting a moderate from of retail prices (short-term balance – 15 percent).

Moreover, according to September 2016 estimates, in the services sector, the turnover will record a moderate growth in the upcoming three months (short-term balance +10 percent) and the number of employees will remain relatively stable (short-term balance +4 percent).

The short term balance indicates the perception of managers of enterprises on the dynamics of a phenomenon, which should not be confused with the pace of increase or decrease of the value of a statistic indicator, INS experts state.