Bulgarian business climate improves in November 2016 – poll

Bulgarian business climate improves in November 2016 – poll

A regular monthly poll by Bulgaria’s National Statistical Institute (NSI) has found a slight improvement in November 2016, resulting from more optimistic opinions among managers in the industry and retail trades.

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 level remained unchanged in August and September, before dropping 1.3 percentage points in October.

In November 2016, the total business climate indicator increased by 0.6 percentage points in comparison with October, the NSI said.

In industry, the indicator was up by 1.9 percentage points on a monthly basis, resulting from managers having higher expectations about their businesses.

In the construction sector, the indicator was down by four percentage points, as managers saw a drop in an inflow of new orders and their views about construction activity in the next three months became more pessimistic.

In the retail trade, the indicator was up by 3.2 percentage points, as retailers assessments and expectations about their businesses became more optimistic, though their opinions about the volume of sales over the past three months and their expectations for sales over the coming three months became more unfavourable.

In the service sector, the indicator was largely unchanged from October.

Managers’ assessments and expectations about the business situation of their enterprises were shifting to the more moderate opinions, the NSI said.

At the same time, their forecasts about the demand for services over the next three months had improved, the survey found./IBNA