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Business climate in Bulgaria's construction and service industries slightly improved in February - poll

Business climate in Bulgaria's construction and service industries slightly improved in February - poll
 

A regular monthly poll by the National Statistical Institute (NSI) has found that managers' views of the business climate in Bulgaria in February was largely unchanged in February 2017 from January, with slight improvements in the construction and service industries.

In industry and the retail trade, there was a downturn in opinions of the business climate, the NSI survey, released on February 28, found.

The composite indicator "business climate in industry" was down by 0.7 percentage points in comparison with January because of managers’ assessments about the present business situation of their enterprises.

At the same, they saw production activity as slight improved, with expectations of an increase over the next three months.

The uncertain economic environment was the most frequently cited factor, at close to 46 per cent, acting as an obstacle to business development, the NSI said.

Managers did not see selling prices changing over the next three months.

In the construction sector, the indicator was up by 0.5 percentage points, with managers having improved expectations about the next six months. Managers expected selling prices to remain unchanged over the next three months.

The retail trade indicator was down by 1.3 percentage points compared with January, as managers' assessments of the current business situation of their enterprises dropped from "good" to "satisfactory". The NSI said that this was normal for the season.

However, their forecasts about the business situation over the next six months were more favourable, with expectations that sales would improve in the next three months.

The most serious difficulties for business development in the retail trade continue to be connected with competition in the sector, uncertain economic environment and insufficient demand.

As regards selling prices, the retailers expect some increase over the next three months.

In Bulgaria's service sector, the indicator was up by 0.5 percentage points, with more favourable expectations about the next six months.

Managers' opinions about current demand for services were more reserved, while their expectations about the next three months had improved.

Competition in the sector and the uncertain economic environment remained the main obstacles to business development in the sector. Concerning selling prices, managers’ expectations were that they would remain unchanged over the next three months, the NSI said./IBNA

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