Industrial production dropped 0.7 percent in October compared to its September level, and by an annual three percent, according to the National Institute of Statistics (INS).
Negative results were registered in commerce also. The turnover posted in retail slid 19 percent in October 2008 compared to September, according to INS, and by 8.6 percent year-on-year.
On the other hand, the electricity and thermal energy, gas, and water, and the extractive industry registered 5.4 percent and 1.4 percent monthly growth, respectively. Compared to October 2007, these two sectors rose 11.8 percent and 6.2 percent, respectively.
“The manufacturing industry will not develop very well in 2009. In a pessimistic scenario, I foresee an approximate 20 percent drop in production, which means over 30,000 employees will be laid off. We also have an optimistic scenario, which estimates a drop of only 10 percent,” Maria Grapini, President of the Association of Employers in the Light Industry (FEPAIUS), told Business Standard.
