Bulgarian business climate in August unchanged from July – poll

Bulgarian business climate in August unchanged from July – poll

Sofia, August 29, 2016/ Independent Balkan News Agency

By Clive Leviev-Sawyer of The Sofia Globe

The Bulgarian business climate in August 2016 was largely unchanged from July, according to a regular monthly survey among managers by the country’s National Statistics Institute (NSI).

In 2016, the NSI surveys found improvements in business sentiment in Bulgaria in January, February and March, a drop in April, and gains in May and June, followed by a drop in July.

The NSI said that in August 2016, opinions in Bulgaria’s industry and service sectors were improved, while in the construction and retail trades, the indicators had lowered.

In industry, the indicator was up by 0.7 percentage points compared with July, a result of managers’ more favourable assessments and expectations about the business situations of their enterprises.

In the service sector, the indicator was up by 1.3 percentage points, boosted by managers’ improved expectations about the next six months. At the same time, their opinions about current demand for services, as well as their expectations for the coming three months, were more reserved.

However, in the construction sector, business people had lowered their assessments and expectations. They saw the factors most limiting the sector as the uncertain economic environment and competition in the sector.

In the retail trade, the indicator was down 1.9 percentage points on July, as managers shifted their view about the business situation in their sector from “good” to “satisfactory”. At the same time, there was slightly more optimism in their expectations about the coming three months, the NSI poll found.