Business optimism increases in Romania, in line with Central Europe, Deloitte study finds

Business sentiment across Central Europe has improved compared to four months ago, shows a recent study by Deloitte. Results of the second edition of the Deloitte Central Europe Business Sentiment Index, valid for the October – December 2009 period, show improved optimism among Romanian companies, compared to the first edition four months ago, a trend in line with Central Europe. “The general feeling is that Romania’s economy is looking at brighter prospects over the next six months (50 percent). This macroeconomic perspective translates into similar optimism at individual level, with more participants expecting higher sales over the next year, compared to expectations four months ago (58.4 percent, out of which 16.7 percent expect a significant increase),” said George Mucibabici, Deloitte Romania chairman. The Index reflects business leaders opinions from Romania, Poland, Hungary, the Czech Republic, Slovakia and Croatia

Romania also signals easier access to credit, with 75 percent of interviewed companies saying that credit was easily or somewhat available, compared to some 54 percent, in September.

The human resources market also shows signs of stabilization, fewer companies announcing further reductions in personnel in the next 12 months (37.5 percent compared to 42.3 percent in September). Moreover, the percentage of companies expecting to add new employees went up from 7.7 percent to 12.5 percent.

“Despite positive signs at the horizon, companies maintain a prudent approach of new spending,” George Mucibabici continued. “More companies focus on existing products and services, limiting innovation in this field over the next 12 months,” he added.

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