Several sectors of economy to shrink in next two months – statistics institute

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Several sectors of the economy such as the processing industry, retail trade, services and construction will see moderate or major shrinkages respectively over Dec. 2009 – Feb. 2010 compared to this Sept. – Nov., the National Institute of Statistics quotes managers of commercial companies as saying.

A moderate drop in the activity conducted by the processing industry and the retail trade is forecast for Dec.-Feb., along with a cut-back in the activity of services and a major drop in the construction sector from the three prior months.

The institute’s figures show that construction is to see a significant drop of the production at minus 53 percent in the next three months, while the contracts and orders will plunge by 49 percent from the period prior to the first three months of the 2009 autumn. The construction works prices will drop at a moderate minus 6 percent, the institute anticipated.

Downward trends will be recorded in the processing industry and retail trade too. The production volume is projected to drop by 14 percent. Furthermore, the processing industry is expected to lay off 21 percent of its workers. The steel making industry is forecast to shrink by 63 percent, the coal products industry and the industry of products from oil processing will drop 46 percent, while wood processing, except for furniture-making, will fall 36 percent.

The institute quotes retail trade managers as anticipating a moderate drop in the economic activity for Dec.-Feb., at a minus 10 percent short-term balance. The total goods sales will post moderate drop, at minus 9 percent short-term balance, while the commercial companies’ orders to the goods suppliers will dwindle moderately at minus 7 percent short-term balance.
The employers predict that 11 percent of the retail trade workers will lose their jobs. On the other hand, the commercial company managers anticipate the retail prices will rise by 26 percent.

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