Poll sees business climate in Bulgaria largely unchanged in March 2019

Poll sees business climate in Bulgaria largely unchanged in March 2019

A regular monthly poll by the National Statistical Institute (NSI) found the business climate in Bulgaria in March 2019 much the same as in the previous month.

In February, the poll also found the business climate in Bulgaria largely unchanged. In January, the business climate was seen as slightly improved compared with December.

The NSI said that the only of the four sectors where the poll found an improvement in March 2019 was the retail trade.

The composite indicator “business climate in retail trade” increased by 2.6 percentage points mainly because retailers were more optimistic about the situation of their businesses over the next six months, the NSI said.

At the same time, their forecasts about the volume of sales over the next three months had improved.

According to the poll, the most serious problem in Bulgaria’s retail sector was competition in the sector, followed by insufficient demand and the uncertain economic environment. Most retailers expect selling prices to remain unchanged over the next three months, the NSI said.

In March, the composite indicator “business climate in service sector” preserved approximately its February level. Managers’ assessments about current demand for services were reserved, while their expectations about the coming three months were also becoming more moderate, the poll found.

In March, the composite indicator “business climate in construction” was also similar to that in February, while managers in the sector remained optimistic about the next six months. They foresaw an increase in employment in the sector.

The composite indicator “business climate in industry” remained about the same as in February. Expectations about the coming three months were less favourable than in the previous month, the NSI said./ibna