Results of a regular monthly poll by Bulgaria’s National Statistical Institute showed the business climate in the country as seen as largely unchanged in July 2019 compared with June.
The poll found a lowering of the indicators in industry and construction, the indicator for the retail trade the same as in June, while only in the service sector was it up.
The NSI said that the indicator for industry was down by 1.7 percentage points, a result of managers’ opinions about the situation in their businesses having slightly worsened. The poll also found them as having more unfavourable forecasts about exports and production activity.
The indicator for Bulgaria’s construction industry was down by 0.8 percentage points, with managers’ views of the current business situation shifting from “good” to “satisfactory”.
Factors listed as pushing the indicator down included a shortage of labour, uncertain economic environment and competition in the sector.
Retailers’ expectations about the business development in the sector over the next six months are positive. At the same time, their forecasts about the volume of sales and orders placed with suppliers over the next three months remain favourable, though more reserved in comparison with June.
In the service sector, managers were more optimistic in their views of the business situation, though their expectations for the next three months were more unfavourable. The main difficulties were seen as competition in the sector, the uncertain economic environment and a shortage of labour./ibna