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EC: Confidence in Romania’s economy down again

The confidence of investors and consumers in Romania's economy reduced in August for the 11th consecutive month, triggered by the pessimism of consumers and by difficulties in constructions, whereas within the European Union (EU), the confidence index has been posing a growing trend for 5 months, according to a survey by General Directorate for Economy and Finances within the European Commission (EC).

Based on this, cited by Mediafax, the last decline for this index in relation to the EU was reported in March, from 60.8 per cent in February to 60.4 per cent. This development indicates, according to analysts, a possible overcome of the recession by EUR zone economy during the third quarter of this year.

The study, which centralizes the outcomes of the opinion polls conducted by the European authorities among consumers and investors in the 27 Member States, outlines that the index of confidence in Romania's economy declined in August to 62.4 per cent from 65 in July and from 101.3 per cent respectively during the similar time period of last year. The index for the Romanian economy posed the last growth in September 2008, from 101.3 per cent to 104.8 per cent, starting to decline in October. The components of the index are confidence in industry (accounting for 40 per cent), services (30 per cent), constructions and retail (5 per cent each), as well as the perception of consumers as to the economic situation, accounting for 20 per cent. The Romanian economy received one of the lowest "marks" within the EU, according to the survey, the confidence index resulting in Romania ranking the 20th among MS.

In constructions, the index of the investors' perception on the economic prospects stagnated in August compared to July, to - 42, compared to - 6 in August last year. Some more optimism was reported for investors in industry, the index of this sector stagnating to - 15 in August, from - 1 on the same month of 2008.

The index for services experienced a strong decline this month compared to July, dropping from - 9 to - 15. The retail sector remains the only sector of the Romanian economy where an advance in the confidence of investors was reported in August, the index going up slightly from - 21 to - 22 in July.

President Basescu does not trust the analysts surveys

President Traian Basescu said this Saturday in Bailesti that he "burnt himself strongly" when using the surveys of foreign analysts, so that he calls Economy Minister, Adriean Videanu, every week, to learn about energy consumption.

The president said that Romania would not overcome the crisis until other states would. "None of the countries has switched to economic growth. In addition, all pose negative economic growth compared to the previous year and I refer here mainly to the EU Member States. In addition, we have more than 70 per cent of our exports directed to the EU", according to the head of state.

Sursa: http://www.nineoclock.ro

Tags: index economy romania confidence

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