Business sentiment in Bulgaria rises in March – poll

Business sentiment in Bulgaria rises in March – poll

Sofia, March 29, 2016/Independent Balkan News Agency

By Clive Leviev-Sawyer of The Sofia Globe

A regular poll by Bulgaria’s National Statistical Institute has found that in March 2016, the total business climate indicator increased by 1.6 percentage points compared to the previous month, pushed up by increased optimism in industry, construction and the retail trade sectors.

The industry indicator rose by 2.9 points, buoyed by optimistic expectations for the sector, although current manufacturing activity is seen as slightly down.

In the construction sector, the business climate was up by 2.4 percentage points, with managers more optimistic about the current business situation of their enterprises and holding a favourable outlook for the sector in the next quarter.

In the retail trade, the indicator was up by one point compared to February, boosted by retailers’ expectations for the next six months. They also were more optimistic about the volume of sales and orders placed with suppliers over the next three months, the NSI said.

In the service sector, the composite indicator was down by 1.3 percentage points on the month, a result of managers’ reserved assessments and expectations about the business situation of their enterprises, although expectations for the next three months were favourable.