Poll sees business climate in Bulgaria as having worsened in June 2019

Poll sees business climate in Bulgaria as having worsened in June 2019

A regular monthly poll by Bulgaria’s National Statistical Institute (NSI) has found that the country’s business climate is seen as having worsened in June 2019, with the poll results pulled down by opinions in the industry, construction and service sectors.

The polls in May and April had seen the business climate as improved. In March and February, the monthly polls had found the business climate in Bulgaria largely unchanged. In January, the business climate was seen as slightly improved compared with December.

In June 2019, the total business climate indicator was down by 1.3 percentage points compared with May, the NSI said.

The indicator in the industry sector was down by 1.1 percentage points, a result of managers changing their expectations for the coming six months from “better” to “the same”.

In the construction sector, the indicator dropped by 1.8 percentage points, as a result of the slightly worsened construction entrepreneurs’ assessments and expectations about the business situation of the enterprises. Their forecasts about the construction activity over the next 3 months are also more reserved, the NSI said.

In the retail sector, the indicator was largely unchanged from May.

Retailers’ opinions about the volume of sale and orders placed with suppliers (from both domestic and foreign market) over the next three months were optimistic, the poll found.

In June the composite indicator “business climate in service sector” dropped by 2.1 percentage points, which the NSI said was due to the more unfavourable managers’ assessments and expectations about the business situation of the enterprises.

The poll found that the demand for services was seen as slightly improved, while managers’ expectations for the next three months remained favourable, though more reserved compared with the previous month, the NSI said./ibna