Increased optimism in construction, service industries boost view of Bulgaria’s business climate – poll

Increased optimism in construction, service industries boost view of Bulgaria’s business climate – poll

Sofia, January 28, 2016/Independent Balkan News Agency

By Clive Leviev-Sawyer of The Sofia Globe

A regular poll by Bulgaria’s National Statistical Institute (NSI) has found slightly increased optimism about the country’s business climate, boosted by brighter views on the outlook in the construction and service industries.

In January 2016, the total business climate indicator increases by 0.6 percentage points compared to December 2015, the NSI said on January 28.

The NSI customarily seeks out opinions among managers in four categories of sector – industry, construction, retail and the service sector.

In “industry”, views were largely unchanged from those in December 2015. However, managers expectations about the outlook for the next three months were “more moderate”.

The uncertain economic environment and insufficient domestic demand remain the main obstacles for the business development in the sector, according to those polled, who also expected that selling prices would remain unchanged in the coming three months.

The indicator in the construction sector was up three percentage points, driven by more optimistic views about the business situation over the next six months and construction activity in the next three months.

In the retail trade, the indicator dropped 3.4 percentage points, driven down mainly by increased unfavourable assessments of the outlook for the next three months regarding the volume of orders and sales.

In the service sector, the indicator was up by 3.9 percentage points, stimulated by expectations of increased demand. However, managers expected that selling prices would remain the same in the coming three months, NSI said.