Business sentiment in Bulgaria slides in September

Business sentiment in Bulgaria slides in September

Sofia, September 29, 2015/Independent Balkan News Agency

By Clive Leviev-Sawyer of The Sofia Globe

A monthly poll among business managers in Bulgaria showed a slide in optimism in September 2015, mainly because of more pessimistic views in industry, construction and the retail trade.

The National Statistical Institute (NSI) said that its monthly business climate indicator was 2.9 percentage points lower in September than in August.

Previously, the NSI monthly poll had shown increased optimism about the business climate every month from January to May 2015, with a drop in July and a slight recovery in August.

The NSI said that in September, the “business climate in industry” indicator was 4.8 percentage points lower than in August.

In construction, the indicator was 3.4 percentage points lower than in August, while in the retail trade, the indicator decreased by 1.7 percentage points.

In the services sector, the indicator was at about the same level as in August.

As regards to the demand for services, the present tendency is assessed as slight improved, but the expectations over the next three months are more reserved, the NSI said.

The main obstacle for the development of the activity in the services sector remained the uncertain economic environment, followed by competition in the sector. At the same time in the past month the poll found a strengthening of the negative impact of the factor “weakness in economic legislation”.