Business confidence in Bulgaria improves slightly in October – statistics institute

Business confidence in Bulgaria improves slightly in October – statistics institute

Sofia, October 28, 2015/Independent Balkan News Agency

By Clive Leviev-Sawyer of The Sofia Globe

Executives’ opinions of the business climate in Bulgaria improved slightly in October 2015 in comparison with the previous month, according to a regular survey by the country’s National Statistical Institute (NSI).

In October, the total business climate indicator was up by one percentage point in comparison with September, due to the improved business climate in industry, construction and retail trade, the NSI said on October 28.

In industry, the indicator increased by 2.3 percentage points compared to September, pushed up by favourable assessments and expectations among managers.

Their expectations retained optimism although it was more moderate in comparison with September.

The main factor limiting the activity in the sector remained the uncertain economic environment, though in the last month a decrease of its negative impact had been seen, the NSI said.

In the construction sector, the indicator increased by 0.6 percentage points. Managers’ forecasts about construction activity over the next three months remained favourable, though more moderate compared with September.

In the retail trade, the indicator was up by 1.3 percentage points compared to September, boosted by optimistic expectations about the next six months. However, the main factors limiting the development of the activity in the sector remained competition, the uncertain economic environment and insufficient demand, though in the past month a decrease of the negative impact of these had been seen, the NSI said.

In the service sector, the indicator was down 1.8 percentage points compared to September, as managers lowered their expectations from an improvement to the business situation remaining unchanged.